Super Micro Computer (NASDAQ:SMCI) Trading Up 8% – What’s Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were up 8% during mid-day trading on Wednesday . The stock traded as high as $33.13 and last traded at $31.50. Approximately 46,611,869 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 34,049,043 shares. The stock had previously closed at $29.16.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SMCI. Loop Capital boosted their price objective on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Super Micro Computer currently has an average rating of “Hold” and an average target price of $62.89.

Super Micro Computer Stock Up 8.1 %

The stock has a market capitalization of $18.45 billion, a P/E ratio of 15.80 and a beta of 1.30. The stock has a 50 day moving average price of $33.57 and a 200-day moving average price of $41.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. purchased a new stake in Super Micro Computer during the 4th quarter valued at $30,000. Trust Co. of Vermont boosted its holdings in shares of Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in Super Micro Computer during the 4th quarter valued at about $31,000. Finally, Golden State Wealth Management LLC bought a new position in Super Micro Computer during the 4th quarter valued at approximately $34,000. 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.