Super Micro Computer (NASDAQ:SMCI) Trading Up 1.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was up 1.6% during trading on Wednesday . The stock traded as high as $31.71 and last traded at $31.03. Approximately 11,130,289 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 29,989,000 shares. The stock had previously closed at $30.53.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SMCI shares. Wedbush restated a “neutral” rating and issued a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Mizuho initiated coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price for the company. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Super Micro Computer has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Price Performance

The company has a 50 day moving average of $32.18 and a 200-day moving average of $47.77. The stock has a market capitalization of $17.17 billion, a P/E ratio of 15.41 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 Investors Weigh In On Super Micro Computer

A number of hedge funds have recently added to or reduced their stakes in SMCI. International Assets Investment Management LLC lifted its stake in 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 buying an additional 915,058 shares during the last quarter. Bridgewater Associates LP lifted its stake in Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after buying an additional 145,327 shares during the last quarter. Van ECK Associates Corp lifted its stake in Super Micro Computer by 1,169.5% in the third quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock valued at $56,077,000 after buying an additional 124,062 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of 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 purchasing an additional 101,552 shares during the period. Finally, Czech National Bank increased its holdings in shares of Super Micro Computer by 963.7% during the fourth quarter. Czech National Bank now owns 109,175 shares of the company’s stock valued at $3,328,000 after purchasing an additional 98,911 shares during the period. 84.06% of the stock is currently owned by institutional investors.

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.