Super Micro Computer (NASDAQ:SMCI) Shares Up 1.6% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares rose 1.6% during trading on Thursday . The stock traded as high as $32.82 and last traded at $31.49. Approximately 11,984,337 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 29,826,801 shares. The stock had previously closed at $30.99.

Analyst Ratings Changes

Several research analysts have recently issued reports on SMCI shares. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Loop Capital dropped their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Performance

The firm’s fifty day simple moving average is $32.59 and its 200 day simple moving average is $47.18. 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 company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 15.47 and a beta of 1.31.

Institutional Trading of Super Micro Computer

Hedge funds have recently modified their holdings of the business. Kathmere Capital Management LLC lifted its stake in Super Micro Computer by 5.0% in the 2nd 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. Mount Yale Investment Advisors LLC boosted its holdings in shares of Super Micro Computer by 7.0% during the second quarter. Mount Yale Investment Advisors LLC now owns 428 shares of the company’s stock worth $351,000 after purchasing an additional 28 shares during the period. Steel Grove Capital Advisors LLC grew its position in Super Micro Computer by 3.9% during the second quarter. Steel Grove Capital Advisors LLC now owns 790 shares of the company’s stock valued at $647,000 after purchasing an additional 30 shares in the last quarter. Resources Management Corp CT ADV increased its stake in shares of Super Micro Computer by 100.0% in the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after acquiring an additional 30 shares during the last quarter. Finally, Harmony Asset Management LLC raised its holdings in shares of Super Micro Computer by 0.6% during the second quarter. Harmony Asset Management LLC now owns 6,187 shares of the company’s stock worth $5,069,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other 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.