Super Micro Computer (NASDAQ:SMCI) Trading Up 1.4% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares rose 1.4% on Monday . The stock traded as high as $48.88 and last traded at $47.94. Approximately 13,789,809 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 80,817,891 shares. The stock had previously closed at $47.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SMCI shares. JPMorgan Chase & Co. cut Super Micro Computer from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $50.00 in a report on Friday, September 6th. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price target for the company from $109.00 to $70.00 in a report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on shares of Super Micro Computer from $77.50 to $67.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Barclays lowered their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.53.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a fifty day simple moving average of $48.11 and a two-hundred day simple moving average of $70.29. The stock has a market cap of $27.00 billion, a PE ratio of 24.11 and a beta of 1.23.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company posted $0.34 earnings per share. Super Micro Computer’s revenue for the quarter was up 142.9% compared to the same quarter last year. Equities analysts anticipate that Super Micro Computer, Inc. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMCI. Park Avenue Securities LLC acquired a new position in shares of Super Micro Computer in the 1st quarter valued at approximately $690,000. Ballentine Partners LLC bought a new position in Super Micro Computer during the 1st quarter valued at $253,000. Gateway Investment Advisers LLC acquired a new position in Super Micro Computer during the 1st quarter worth $499,000. Annex Advisory Services LLC increased its position in shares of Super Micro Computer by 175.7% in the 1st quarter. Annex Advisory Services LLC now owns 5,514 shares of the company’s stock worth $5,569,000 after purchasing an additional 3,514 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. acquired a new stake in shares of Super Micro Computer in the 1st quarter valued at about $566,000. 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.