Super Micro Computer (NASDAQ:SMCI) Trading 6% Higher – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI) was up 6% during trading on Wednesday . The company traded as high as $35.50 and last traded at $34.33. Approximately 41,339,738 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 82,951,336 shares. The stock had previously closed at $32.40.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SMCI shares. Loop Capital reduced their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Mizuho initiated coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 target price for the company. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and set a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Finally, Cfra reissued a “hold” rating and issued a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Up 6.0 %

The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 17.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a 50 day moving average price of $34.78 and a two-hundred day moving average price of $53.33.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in shares of Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Super Micro Computer by 921.1% during the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after acquiring an additional 145,327 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Super Micro Computer by 1,169.5% during the third quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock valued at $56,077,000 after acquiring an additional 124,062 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Super Micro Computer by 511.9% in the second quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after acquiring an additional 110,308 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Super Micro Computer by 1,730.3% in the third quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock worth $44,730,000 after acquiring an additional 101,552 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Company Profile

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.