Super Micro Computer (NASDAQ:SMCI) Trading 6.7% Higher – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 6.7% during mid-day trading on Tuesday . The stock traded as high as $28.72 and last traded at $28.64. 14,715,649 shares were traded during mid-day trading, a decline of 55% from the average session volume of 32,610,902 shares. The stock had previously closed at $26.85.

Analysts Set New Price Targets

A number of research analysts have recently commented on SMCI shares. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital lifted their price target on Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. 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 research report on Wednesday, November 6th. Three equities research 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 company. According to MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and a consensus target price of $62.89.

Super Micro Computer Trading Up 7.5 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $19.82 billion, a PE ratio of 16.99 and a beta of 1.30. The stock’s fifty day moving average price is $33.50 and its two-hundred day moving average price is $41.55.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in SMCI. Rakuten Securities Inc. raised its holdings in Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after purchasing an additional 61,071 shares in the last quarter. Assetmark Inc. increased its position in shares of Super Micro Computer by 164.8% during the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after buying an additional 93,569 shares during the period. Clear Creek Financial Management LLC bought a new position in Super Micro Computer in the fourth quarter worth about $635,000. Nepsis Inc. purchased a new stake in Super Micro Computer in the fourth quarter worth about $13,625,000. Finally, Sanctuary Advisors LLC lifted its holdings in Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after buying an additional 21,997 shares during the period. Institutional investors own 84.06% of the company’s stock.

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.