Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up prior to trading on Thursday . The stock had previously closed at $34.33, but opened at $35.09. Super Micro Computer shares last traded at $34.50, with a volume of 6,934,858 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Loop Capital decreased their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Cfra reissued a “hold” rating and set a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Wells Fargo & Company decreased their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Finally, Mizuho started coverage on Super Micro Computer in a report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price for the company. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Up 0.3 %

The firm has a market capitalization of $19.27 billion, a PE ratio of 17.29 and a beta of 1.29. 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 company has a fifty day simple moving average of $34.49 and a two-hundred day simple moving average of $53.03.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Super Micro Computer by 4.3% during the third quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after buying an additional 88,692 shares during the period. Geode Capital Management LLC boosted its position in Super Micro Computer by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after acquiring an additional 16,007 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Super Micro Computer by 3.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after acquiring an additional 31,064 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Super Micro Computer by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after purchasing an additional 2,011 shares during the last quarter. Hedge funds and other 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.