Super Micro Computer (NASDAQ:SMCI) Shares Up 2.7% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded up 2.7% during mid-day trading on Wednesday . The company traded as high as $34.98 and last traded at $33.32. 24,207,774 shares were traded during trading, a decline of 21% from the average session volume of 30,785,480 shares. The stock had previously closed at $32.45.

Analysts Set New Price Targets

SMCI has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Finally, Loop Capital raised their price target on shares of Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and an average target price of $62.89.

Super Micro Computer Price Performance

The company has a market cap of $18.61 billion, a price-to-earnings ratio of 16.70 and a beta of 1.31. The stock’s 50-day simple moving average is $33.53 and its 200 day simple moving average is $45.50. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Trading of Super Micro Computer

Institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC grew its position in Super Micro Computer by 48.0% in the 2nd quarter. AE Wealth Management LLC now owns 980 shares of the company’s stock valued at $803,000 after acquiring an additional 318 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Super Micro Computer by 52.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,655 shares of the company’s stock worth $2,995,000 after buying an additional 1,254 shares during the period. Bank of Montreal Can lifted its holdings in Super Micro Computer by 15.7% during the 2nd quarter. Bank of Montreal Can now owns 73,099 shares of the company’s stock worth $61,783,000 after buying an additional 9,912 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Super Micro Computer by 68.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,092 shares of the company’s stock valued at $8,269,000 after buying an additional 4,090 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Super Micro Computer during the second quarter worth $36,925,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.