Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price fell 7.5% during trading on Friday . The company traded as low as $23.00 and last traded at $23.35. 1,600,381 shares changed hands during mid-day trading, an increase of 309% from the average session volume of 391,688 shares. The stock had previously closed at $25.25.
A number of brokerages recently commented on SMCI. ValuEngine upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Maxim Group reiterated a “buy” rating and issued a $43.00 target price on shares of Super Micro Computer in a research report on Friday, July 21st. BidaskClub cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. KeyCorp reiterated a “hold” rating on shares of Super Micro Computer in a research report on Friday, September 1st. Finally, Zacks Investment Research cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $31.29.
The company has a 50-day moving average price of $26.60 and a 200 day moving average price of $25.29. The firm has a market cap of $1.14 billion, a P/E ratio of 17.43 and a beta of 0.18.
Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. Super Micro Computer had a net margin of 2.74% and a return on equity of 9.08%. The business had revenue of $717.90 million during the quarter, compared to analyst estimates of $714.99 million. During the same quarter last year, the business earned $0.20 earnings per share. Super Micro Computer’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, equities analysts forecast that Super Micro Computer, Inc. will post $2.03 earnings per share for the current year.
In other news, Director Hwei-Ming Fred Tsai sold 5,000 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $27.10, for a total value of $135,500.00. Following the sale, the director now owns 245,000 shares of the company’s stock, valued at $6,639,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of Super Micro Computer by 3.0% in the first quarter. US Bancorp DE now owns 6,075 shares of the technology company’s stock valued at $154,000 after acquiring an additional 176 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Super Micro Computer by 79.6% in the second quarter. State of Alaska Department of Revenue now owns 7,471 shares of the technology company’s stock valued at $184,000 after acquiring an additional 3,311 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Super Micro Computer by 10.9% in the first quarter. BNP Paribas Arbitrage SA now owns 7,695 shares of the technology company’s stock valued at $195,000 after acquiring an additional 755 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Super Micro Computer in the first quarter valued at $207,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Super Micro Computer in the second quarter valued at $202,000. 77.55% of the stock is currently owned by institutional investors and hedge funds.
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About Super Micro Computer
Super Micro Computer, Inc is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.
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