Super Micro Computer (NASDAQ:SMCI) Stock Price Down 1.9% Following Insider Selling

Super Micro Computer, Inc. (NASDAQ:SMCI) was down 1.9% on Thursday following insider selling activity. The stock traded as low as $709.12 and last traded at $724.34. Approximately 2,852,468 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 9,649,184 shares. The stock had previously closed at $738.30.

Specifically, Director Sherman Tuan sold 5,000 shares of Super Micro Computer stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the transaction, the director now directly owns 22,113 shares of the company’s stock, valued at $19,326,319.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Sherman Tuan sold 5,000 shares of Super Micro Computer stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the transaction, the director now directly owns 22,113 shares of the company’s stock, valued at $19,326,319.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Liang Chiu-Chu Sara Liu sold 525 shares of Super Micro Computer stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $869.62, for a total value of $456,550.50. Following the completion of the transaction, the director now directly owns 3,459 shares of the company’s stock, valued at $3,008,015.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,252 shares of company stock valued at $29,950,223. 17.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SMCI shares. JPMorgan Chase & Co. initiated coverage on Super Micro Computer in a report on Monday, March 25th. They set an “overweight” rating and a $1,150.00 price objective for the company. Loop Capital boosted their price objective on Super Micro Computer from $600.00 to $1,500.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com raised Super Micro Computer from a “sell” rating to a “hold” rating in a research report on Wednesday. KeyCorp assumed coverage on Super Micro Computer in a research note on Wednesday, April 24th. They set a “sector weight” rating on the stock. Finally, Susquehanna upped their price objective on Super Micro Computer from $162.00 to $250.00 and gave the stock a “negative” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Super Micro Computer has a consensus rating of “Moderate Buy” and an average target price of $954.38.

Super Micro Computer Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.19 and a current ratio of 4.69. The business has a fifty day simple moving average of $947.89 and a 200 day simple moving average of $579.19. The stock has a market capitalization of $43.78 billion, a price-to-earnings ratio of 43.84, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMCI. Commonwealth Equity Services LLC boosted its stake in Super Micro Computer by 122.2% in the third quarter. Commonwealth Equity Services LLC now owns 9,440 shares of the company’s stock valued at $2,589,000 after buying an additional 5,192 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Super Micro Computer in the third quarter valued at approximately $3,154,000. Cambridge Investment Research Advisors Inc. grew its stake in Super Micro Computer by 61.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,871 shares of the company’s stock valued at $3,529,000 after acquiring an additional 4,915 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Super Micro Computer by 630.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 25,046 shares of the company’s stock valued at $6,868,000 after acquiring an additional 21,615 shares during the period. Finally, Dakota Wealth Management purchased a new position in shares of Super Micro Computer during the third quarter valued at approximately $495,000. 84.06% of the stock is owned by institutional investors and hedge funds.

About Super Micro Computer

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.