Benzinga | Nov 4, 2020 11:46AM EST

Why Super Micro Computer's Stock Is Trading Higher Today

Super Micro Computer (NASDAQ:SMCI) shares are trading higher on Wednesday after the company reported better-than-expected first-quarter EPS and sales results. The company also issued second-quarter EPS guidance above estimates and announced a $50 million buyback.

Super Micro Computer Inc provides high-performance server technology services to cloud computing, data center, Big Data, high performance computing, and "Internet of Things" embedded markets. Its solutions include server, storage, blade and workstations to full racks, networking devices, and server management software. The firm follows a modular architectural approach, which provides flexibility to deliver customized solutions. More than half of the firm's revenue is generated in the United States, with the rest coming from Europe, Asia, and other regions.

Super Micro Computer shares were trading up 19.56% at $27.75 on Wednesday. The stock has a 52-week high of $33.30 and a 52-week low of $15.76.