Super Micro Computer (NASDAQ:SMCI) Trading Down 18.3% on Insider Selling

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was down 18.3% during trading on Wednesday following insider selling activity. The company traded as low as $701.05 and last traded at $701.57. Approximately 6,457,903 shares traded hands during trading, a decline of 33% from the average daily volume of 9,637,808 shares. The stock had previously closed at $858.80.

Specifically, Director Sherman Tuan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the sale, the director now directly owns 22,113 shares of the company’s stock, valued at approximately $19,326,319.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Super Micro Computer 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 transaction of $4,369,900.00. Following the transaction, the director now owns 22,113 shares of the company’s stock, valued at approximately $19,326,319.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Liang Chiu-Chu Sara Liu sold 525 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $869.62, for a total transaction of $456,550.50. Following the completion of the sale, 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. Insiders have sold 34,252 shares of company stock worth $29,950,223 over the last 90 days. 17.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SMCI. JPMorgan Chase & Co. started coverage on Super Micro Computer in a research report on Monday, March 25th. They set an “overweight” rating and a $1,150.00 price objective for the company. The Goldman Sachs Group dropped their price target on shares of Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays raised their target price on shares of Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Bank of America boosted their target price on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, KeyCorp started coverage on Super Micro Computer in a research report on Wednesday, April 24th. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $954.38.

Super Micro Computer Stock Performance

The stock has a market capitalization of $42.65 billion, a price-to-earnings ratio of 42.74, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 1.19, a current ratio of 4.69 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $952.15 and its 200 day simple moving average is $577.91.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. Super Micro Computer had a net margin of 8.88% and a return on equity of 34.09%. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business posted $3.09 earnings per share. Super Micro Computer’s revenue for the quarter was up 103.0% compared to the same quarter last year. Analysts expect that Super Micro Computer, Inc. will post 19.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Super Micro Computer in the third quarter worth about $55,943,000. Natixis Advisors L.P. grew its position in shares of Super Micro Computer by 31.4% during the 3rd quarter. Natixis Advisors L.P. now owns 17,218 shares of the company’s stock worth $4,722,000 after buying an additional 4,118 shares during the period. Shilanski & Associates Inc. raised its stake in shares of Super Micro Computer by 2.7% during the fourth quarter. Shilanski & Associates Inc. now owns 5,103 shares of the company’s stock worth $1,451,000 after buying an additional 134 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Super Micro Computer by 154.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,728 shares of the company’s stock valued at $1,344,000 after buying an additional 2,870 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in Super Micro Computer by 26.5% in the third quarter. Mutual of America Capital Management LLC now owns 54,182 shares of the company’s stock valued at $14,858,000 after acquiring an additional 11,342 shares during the last quarter. 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.