Super Micro Computer (NASDAQ:SMCI) Trading Up 8% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were up 8% during mid-day trading on Wednesday . The company traded as high as $33.13 and last traded at $31.50. Approximately 46,611,869 shares changed hands during trading, an increase of 37% from the average daily volume of 34,049,043 shares. The stock had previously closed at $29.16.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SMCI shares. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. The Goldman Sachs Group cut their price target 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 upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Finally, Loop Capital increased their target price on shares of Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.89.

Super Micro Computer Price Performance

The company has a market cap of $21.24 billion, a PE ratio of 18.21 and a beta of 1.30. The stock has a fifty day simple moving average of $33.47 and a two-hundred day simple moving average of $41.50. 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 institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Super Micro Computer by 968.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,651,134 shares of the company’s stock worth $111,287,000 after purchasing an additional 3,309,398 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Super Micro Computer by 798.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,944,620 shares of the company’s stock valued at $89,752,000 after purchasing an additional 2,616,757 shares in the last quarter. State Street Corp grew its stake in shares of Super Micro Computer by 4.3% in the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after purchasing an additional 88,692 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Super Micro Computer by 956.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,018 shares of the company’s stock worth $40,143,000 after buying an additional 1,192,366 shares during the period. Finally, Amundi acquired a new stake in Super Micro Computer in the 4th quarter valued at $41,563,000. Institutional investors own 84.06% of the company’s stock.

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.