Insider Selling Causes Super Micro Computer (NASDAQ:SMCI) Stock Price to Drop by 0.2%

Super Micro Computer, Inc. (NASDAQ:SMCI) saw a slight dip in its share price on Friday due to insider selling activity. The stock traded as low as $38.88 and closed at $42.85, with 45,633,754 shares changing hands. Specifically, SVP George Kao sold 71,720 shares, while CEO Charles Liang sold 46,293 shares. Analysts have mixed opinions on SMCI, with some reiterating a “hold” rating and others upgrading it to “buy” or “sell.” The company has a market cap of $24.38 billion and a consensus price target of $61.87. Institutional investors have also made moves in the company, with Emerald Mutual Fund Advisers Trust and Retirement Systems of Alabama among those increasing their holdings. Super Micro Computer develops high-performance server and storage solutions globally.