Wedbush Forecasts Strong Price Appreciation for Super Micro Computer (NASDAQ:SMCI) Stock

Super Micro Computer (NASDAQ:SMCI) had its target price hoisted by stock analysts at Wedbush from $24.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price objective points to a potential downside of 0.52% from the stock’s previous close.

Several other research firms also recently weighed in on SMCI. Loop Capital increased their price target on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group cut 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 research report on Wednesday, November 6th. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday. Northland Securities reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $54.00) on shares of Super Micro Computer in a report on Wednesday. Finally, Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Super Micro Computer has an average rating of “Hold” and an average price target of $59.53.

Super Micro Computer Stock Performance

NASDAQ SMCI traded up $1.60 on Wednesday, hitting $40.21. 100,525,303 shares of the stock traded hands, compared to its average volume of 47,945,863. 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 business’s fifty day moving average is $33.53 and its two-hundred day moving average is $40.52. Super Micro Computer has a 12 month low of $17.25 and a 12 month high of $122.90. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 20.15 and a beta of 1.30.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SMCI. Salem Investment Counselors Inc. purchased a new stake in Super Micro Computer in the fourth quarter worth about $30,000. Trust Co. of Vermont boosted its position in shares of Super Micro Computer by 900.0% during the fourth 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 in the last quarter. Parkside Financial Bank & Trust raised its holdings in Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after buying an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in shares of Super Micro Computer in the 4th quarter worth about $31,000. 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.