What's Going On With Super Micro (SMCI) Stock Today?

Super Micro Computer Inc SMCI shares are trading lower Wednesday after the company announced the pricing of its public offering of 2 million shares.

What Happened: Super Micro announced the pricing of its previously announced public offering late Tuesday. The company said it will offer 2 million shares at a public offering price of $875 per share. Super Micro will also give the underwriters a 30-day window to buy up to an additional 300,000 shares at the public offering price.

Super Micro anticipates total gross proceeds of $1.75 billion. The company currently intends to use the proceeds to support its operations, including for purchase of inventory, manufacturing capacity expansion and increased R&D investments. The offering is expected to close on or about March 22.

The offering comes with the stock up more than 220% since the start of the year and up more than 700% over a one-year period.

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Is SMCI A Good Stock To Buy?

Wall Street analysts view Super Micro Computer on the whole as a Buy, given the history of coverage over the past three months. Matt Bryson from Wedbush is the most optimistic, expecting a 112% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Super Micro Computer rose 192.65%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 103.27% over the past year.

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SMCI Price Action: Super Micro Computer shares closed Tuesday down nearly 9%. The stock was down another 1.75 % at $895 at the time of publication Wednesday morning, according to Benzinga Pro.

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