Supermicro Announces 10:1 Stock Spilt

08/07/2024| By Brad Ritter

1 min read

Key Takeaways

Supermicro Computer has announced a 10:1 stock split.
This is the first split in the company’s history.
Split-adjusted shares begin trading in October.

Details & Reasoning

SMCI (Supermicro Computer), a developer and manufacturer of high-performance servers and storage systems, has announced in a regulatory filing that its board of directors has approved a 10-for-1 stock split. Shareholders will receive their additional shares after the market closes on Monday, September 30, 2024, and the stock is expected to begin trading on a split-adjusted basis on Tuesday, October 1, 2024.

SMCI’s decision to split its stock comes after a period of remarkable growth. Since the start of 2023, SMCI shares have gained a staggering 650%, making it one of the market’s top performers. This surge has been fueled by triple-digit gains in both revenue and profits, driven by the AI boom and its insatiable demand for their data processing and cloud computing products.

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