Super Micro Computer (NASDAQ:SMCI) Shares Up 2% – Should You Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price shot up 2% during trading on Wednesday . The company traded as high as $37.14 and last traded at $35.11. 36,266,974 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 82,636,047 shares. The stock had previously closed at $34.43.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SMCI. Wells Fargo & Company cut their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Needham & Company LLC assumed coverage on Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price objective on the stock. Bank of America lowered Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Mizuho assumed coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price for the company. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Trading Up 2.3 %

The company has a market cap of $19.71 billion, a price-to-earnings ratio of 17.63 and a beta of 1.28. The firm has a 50-day moving average price of $37.87 and a 200 day moving average price of $60.03. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SMCI. Farmers & Merchants Investments Inc. grew its position in shares of Super Micro Computer by 400.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after acquiring an additional 24 shares in the last quarter. Moser Wealth Advisors LLC bought a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $25,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after purchasing an additional 24 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $42,000. Finally, First PREMIER Bank lifted its holdings in shares of Super Micro Computer by 126.1% in the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $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.