Super Micro Computer (NASDAQ:SMCI) Stock Price Up 3.6% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) rose 3.6% during mid-day trading on Thursday . The company traded as high as $47.24 and last traded at $47.00. Approximately 10,096,377 shares traded hands during trading, a decline of 87% from the average daily volume of 80,116,922 shares. The stock had previously closed at $45.36.

Analyst Ratings Changes

SMCI has been the subject of a number of analyst reports. Barclays reduced their price objective 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. Cfra reiterated a “hold” rating and set a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Needham & Company LLC assumed coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Nomura cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and an average target price of $74.53.

Super Micro Computer Trading Up 1.9 %

The firm has a market cap of $25.84 billion, a P/E ratio of 23.59 and a beta of 1.23. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $47.66 and its 200 day simple moving average is $69.21.

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

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of SMCI. GQG Partners LLC bought a new stake in shares of Super Micro Computer in the first quarter valued at approximately $1,325,466,000. Vanguard Group Inc. raised its position in shares of Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares during the period. International Assets Investment Management LLC raised its position in shares of Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after purchasing an additional 915,058 shares during the period. American Century Companies Inc. grew its stake in Super Micro Computer by 511.9% during the second quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after acquiring an additional 110,308 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in Super Micro Computer by 1,730.3% during the third quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock valued at $44,730,000 after acquiring an additional 101,552 shares in the last quarter. 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.