Rosenblatt Securities Initiates Coverage on Super Micro Computer (NASDAQ:SMCI)

Research analysts at Rosenblatt Securities began coverage on shares of Super Micro Computer (NASDAQ:SMCI) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $60.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 56.90% from the stock’s current price.

SMCI has been the subject of several other research reports. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, February 11th. Barclays initiated coverage on Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Three equities 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.64.

Super Micro Computer Stock Up 3.2 %

SMCI stock opened at $38.24 on Monday. Super Micro Computer has a fifty-two week low of $17.25 and a fifty-two week high of $122.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 19.20 and a beta of 1.21. The business’s fifty day moving average price is $37.08 and its two-hundred day moving average price is $38.64.

Insiders Place Their Bets

In related news, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP George Kao sold 71,720 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,473 shares of company stock valued at $6,771,552. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors have recently added to or reduced their stakes in the business. Sigma Planning Corp increased its holdings in Super Micro Computer by 25.1% in the third quarter. Sigma Planning Corp now owns 3,950 shares of the company’s stock valued at $1,645,000 after purchasing an additional 792 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Super Micro Computer by 581.6% in the third quarter. Crossmark Global Holdings Inc. now owns 23,380 shares of the company’s stock valued at $9,735,000 after buying an additional 19,950 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Super Micro Computer by 128.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,026 shares of the company’s stock worth $828,000 after acquiring an additional 1,138 shares during the period. Rakuten Securities Inc. boosted its holdings in Super Micro Computer by 391.8% in the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after acquiring an additional 61,071 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Super Micro Computer by 12.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 124,652 shares of the company’s stock valued at $51,905,000 after purchasing an additional 13,936 shares during the period. 84.06% of the stock is owned by 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.