Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $32.45, but opened at $33.98. Super Micro Computer shares last traded at $34.86, with a volume of 8,618,375 shares.

Analysts Set New Price Targets

Several 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 decreased their price target for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Wedbush restated a “neutral” rating and issued a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Barclays dropped their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Loop Capital increased their target price on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.89.

Super Micro Computer Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a market capitalization of $18.69 billion, a P/E ratio of 16.77 and a beta of 1.31. The firm’s fifty day moving average price is $33.53 and its 200-day moving average price is $45.50.

Institutional Trading of Super Micro Computer

Several institutional investors have recently modified their holdings of the company. Kathmere Capital Management LLC raised its position in Super Micro Computer by 5.0% in the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after acquiring an additional 18 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Super Micro Computer by 13.7% in the 2nd quarter. Anchor Investment Management LLC now owns 324 shares of the company’s stock worth $265,000 after purchasing an additional 39 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Super Micro Computer by 4.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,010 shares of the company’s stock worth $1,647,000 after purchasing an additional 88 shares in the last quarter. Dorsey Wright & Associates lifted its stake in Super Micro Computer by 1.3% during the second quarter. Dorsey Wright & Associates now owns 7,224 shares of the company’s stock valued at $5,919,000 after purchasing an additional 90 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its holdings in Super Micro Computer by 50.5% during the second quarter. Daymark Wealth Partners LLC now owns 301 shares of the company’s stock worth $247,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds 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.