Super Micro Computer (NASDAQ:SMCI) Shares Up 2.8% After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 2.8% during mid-day trading on Friday after Loop Capital raised their price target on the stock from $35.00 to $40.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $34.70 and last traded at $34.36. 13,967,897 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 30,618,381 shares. The stock had previously closed at $33.41.

Several other research analysts have also weighed in on SMCI. Barclays lowered their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. The Goldman Sachs Group reduced their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Wedbush reiterated a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.89.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of SMCI. Salem Investment Counselors Inc. acquired a new position in shares of Super Micro Computer in the 4th quarter valued at about $30,000. Trust Co. of Vermont boosted its stake in Super Micro Computer by 900.0% during the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Toth Financial Advisory Corp acquired a new position in Super Micro Computer during the 4th quarter valued at about $31,000. New Wave Wealth Advisors LLC acquired a new position in Super Micro Computer during the 4th quarter valued at about $42,000. Finally, Kieckhefer Group LLC acquired a new position in Super Micro Computer during the 4th quarter valued at about $43,000. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Price Performance

The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 17.25 and a beta of 1.31. The business’s 50 day simple moving average is $33.53 and its 200-day simple moving average is $45.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

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.