Super Micro Computer (NASDAQ:SMCI) Trading Up 9.7% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 9.7% on Friday . The stock traded as high as $34.37 and last traded at $32.58. Approximately 63,629,762 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 81,992,211 shares. The stock had previously closed at $29.70.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SMCI shares. Barclays dropped their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Finally, Loop Capital decreased their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Up 11.6 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $38.23 and its 200 day moving average is $60.81. The stock has a market cap of $18.54 billion, a PE ratio of 16.66 and a beta of 1.28.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently modified their holdings of the company. Farmers & Merchants Investments Inc. grew its holdings in Super Micro Computer by 400.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after purchasing an additional 24 shares during the last quarter. Moser Wealth Advisors LLC purchased a new position in Super Micro Computer during the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. raised its position in Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Super Micro Computer in the second quarter valued at about $42,000. Finally, First PREMIER Bank grew its position in shares of Super Micro Computer by 126.1% in the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

About Super Micro Computer

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.