Super Micro Computer (NASDAQ:SMCI) Shares Gap Down to $108.03

Posted by Defense World Staff on Apr 8th, 2023

Super Micro Computer, Inc. (NASDAQ:SMCI – Get Rating) shares gapped down before the market opened on Thursday . The stock had previously closed at $108.03, but opened at $99.84. Super Micro Computer shares last traded at $103.93, with a volume of 1,082,408 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Northland Securities raised their target price on shares of Super Micro Computer from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. StockNews.com assumed coverage on shares of Super Micro Computer in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, Wedbush cut shares of Super Micro Computer from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

Super Micro Computer Stock Down 6.8 %

The firm has a market capitalization of $5.40 billion, a PE ratio of 9.57 and a beta of 1.26. The business’s 50 day simple moving average is $96.01 and its 200 day simple moving average is $82.21. The company has a current ratio of 2.89, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08.

Super Micro Computer (NASDAQ:SMCI – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.14. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Super Micro Computer had a net margin of 8.70% and a return on equity of 37.49%. On average, equities research analysts forecast that Super Micro Computer, Inc. will post 9.93 earnings per share for the current year.

Insider Transactions at Super Micro Computer

In other news, Director Sherman Tuan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $87.00, for a total value of $87,000.00. Following the completion of the sale, the director now owns 24,696 shares in the company, valued at approximately $2,148,552. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sherman Tuan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $87.00, for a total value of $87,000.00. Following the completion of the sale, the director now owns 24,696 shares in the company, valued at approximately $2,148,552. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Liang sold 43,772 shares of the firm’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $71.26, for a total transaction of $3,119,192.72. Following the completion of the sale, the chief executive officer now owns 6,722,717 shares of the company’s stock, valued at approximately $479,060,813.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,772 shares of company stock worth $7,917,123. 14.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMCI. Fairfield Bush & CO. bought a new stake in Super Micro Computer during the 1st quarter valued at about $126,000. MetLife Investment Management LLC lifted its holdings in Super Micro Computer by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 25,047 shares of the company’s stock valued at $954,000 after buying an additional 8,927 shares in the last quarter. BlackRock Inc. lifted its holdings in Super Micro Computer by 8.7% during the 1st quarter. BlackRock Inc. now owns 3,445,273 shares of the company’s stock valued at $131,163,000 after buying an additional 275,725 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Super Micro Computer by 21.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,829 shares of the company’s stock valued at $114,000 after buying an additional 493 shares in the last quarter. Finally, LSV Asset Management bought a new stake in Super Micro Computer during the 1st quarter valued at about $259,000. Institutional investors own 73.08% of the company’s stock.

About Super Micro Computer

(Get Rating)

Super Micro Computer, Inc engages in the distribution and manufacture of information technology solutions and other computer products. Its products include twin solutions, MP servers, GPU and coprocessor, MicroCloud, AMD solutions, power supplies, SuperServer, storage, motherboards, chassis, super workstations, accessories, SuperRack and server management products.