Super Micro Computer (NASDAQ:SMCI) Shares Down 0.5% Following Insider Selling

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was down 0.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $38.23 and last traded at $38.96. Approximately 29,003,924 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 78,008,891 shares. The stock had previously closed at $39.14.

Specifically, Director Robert L. Blair sold 19,460 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Super Micro Computer news, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the completion of the sale, the chief executive officer now directly owns 67,403,640 shares in the company, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

SMCI has been the subject of several recent research reports. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, February 11th. Northland Securities restated an “outperform” rating and issued a $57.00 price target (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. StockNews.com raised shares of Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. The Goldman Sachs Group lifted their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Finally, Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.87.

Super Micro Computer Stock Performance

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $23.09 billion, a PE ratio of 19.53 and a beta of 1.30. The business has a 50 day simple moving average of $36.89 and a 200 day simple moving average of $38.97.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of SMCI. Miller Wealth Advisors LLC acquired a new position in Super Micro Computer during the 3rd quarter valued at approximately $152,000. Keynote Financial Services LLC purchased a new stake in shares of Super Micro Computer during the third quarter valued at $334,000. Stiles Financial Services Inc increased its position in shares of Super Micro Computer by 152.9% in the 3rd quarter. Stiles Financial Services Inc now owns 1,075 shares of the company’s stock valued at $448,000 after acquiring an additional 650 shares during the period. SpiderRock Advisors LLC raised its stake in Super Micro Computer by 14.5% in the 3rd quarter. SpiderRock Advisors LLC now owns 4,602 shares of the company’s stock worth $1,916,000 after acquiring an additional 583 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Super Micro Computer by 164.8% during the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock worth $62,599,000 after acquiring an additional 93,569 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Company Profile

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.