Super Micro Computer (NASDAQ:SMCI) Trading 1% Higher – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 1% during mid-day trading on Thursday . The company traded as high as $28.63 and last traded at $28.07. 7,242,454 shares changed hands during trading, a decline of 77% from the average session volume of 31,838,777 shares. The stock had previously closed at $27.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SMCI shares. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital upped their price target on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, eleven have given 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.89.

Super Micro Computer Trading Up 3.0 %

The business’s 50 day moving average is $34.01 and its two-hundred day moving average is $43.48. The firm has a market capitalization of $16.02 billion, a P/E ratio of 14.30 and a beta of 1.31. 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Super Micro Computer by 498.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,132 shares of the company’s stock worth $6,663,000 after buying an additional 6,774 shares in the last quarter. Quarry LP grew its stake in shares of Super Micro Computer by 5,850.0% in the 2nd quarter. Quarry LP now owns 119 shares of the company’s stock worth $98,000 after purchasing an additional 117 shares during the last quarter. Regal Investment Advisors LLC acquired a new stake in Super Micro Computer during the second quarter valued at approximately $378,000. Granite Bay Wealth Management LLC acquired a new position in Super Micro Computer in the second quarter worth approximately $269,000. Finally, Cetera Investment Advisers increased its holdings in shares of Super Micro Computer by 24.5% in the second quarter. Cetera Investment Advisers now owns 34,324 shares of the company’s stock valued at $28,123,000 after buying an additional 6,749 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.