Super Micro Computer (NASDAQ:SMCI) Shares Up 3.2% Following Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 3.2% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $23.00 to $35.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Super Micro Computer traded as high as $43.89 and last traded at $39.86. 90,546,589 shares changed hands during mid-day trading, an increase of 91% from the average session volume of 47,351,418 shares. The stock had previously closed at $38.61.

A number of other equities analysts also recently weighed in on the stock. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday. Wedbush reissued a “neutral” rating and issued a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Northland Securities reaffirmed an “outperform” rating and set a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a research report on Wednesday. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.00.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Super Micro Computer by 908.4% during the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Super Micro Computer by 968.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,651,134 shares of the company’s stock valued at $111,287,000 after acquiring an additional 3,309,398 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Super Micro Computer by 798.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,944,620 shares of the company’s stock valued at $89,752,000 after acquiring an additional 2,616,757 shares during the last quarter. State Street Corp boosted its position in shares of Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after acquiring an additional 88,692 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Super Micro Computer by 851.9% during the 4th quarter. Swiss National Bank now owns 1,488,800 shares of the company’s stock valued at $45,379,000 after acquiring an additional 1,332,400 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

Super Micro Computer Trading Up 3.6 %

The stock has a 50-day moving average price of $33.53 and a 200-day moving average price of $40.52. The stock has a market cap of $23.41 billion, a P/E ratio of 20.04 and a beta of 1.30. 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.