Super Micro Computer (NASDAQ:SMCI) Trading 15.7% Higher – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 15.7% on Monday . The company traded as high as $39.23 and last traded at $38.34. 79,559,109 shares were traded during mid-day trading, a decline of 3% from the average session volume of 82,402,492 shares. The stock had previously closed at $33.15.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SMCI. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Cfra restated a “hold” rating and set a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Needham & Company LLC started coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target for the company. Finally, Mizuho started coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Performance

The firm has a market capitalization of $19.62 billion, a P/E ratio of 17.61 and a beta of 1.28. The company has a 50-day moving average of $37.70 and a 200-day moving average of $59.71. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp bought a new stake in shares of Super Micro Computer in the 3rd quarter valued at $443,000. Tidal Investments LLC lifted its position in shares of Super Micro Computer by 143.8% during the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after buying an additional 29,697 shares during the last quarter. World Investment Advisors LLC grew its position in shares of Super Micro Computer by 13,210.5% in the third quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock valued at $23,722,000 after purchasing an additional 56,541 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after purchasing an additional 21,997 shares during the period. Finally, Strait & Sound Wealth Management LLC purchased a new stake in shares of Super Micro Computer in the 3rd quarter valued at about $1,143,000. 84.06% of the stock is currently owned by institutional investors.

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.