Super Micro Computer (NASDAQ:SMCI) Trading Up 9.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 9.2% during mid-day trading on Monday . The company traded as high as $38.50 and last traded at $36.38. 32,741,279 shares changed hands during trading, an increase of 11% from the average session volume of 29,473,436 shares. The stock had previously closed at $33.33.

Analysts Set New Price Targets

SMCI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Barclays lowered their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $31.83 and its 200 day simple moving average is $49.67. The company has a market cap of $18.24 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31.

Institutional Trading of Super Micro Computer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. lifted its holdings in Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after acquiring an additional 24 shares during the last quarter. Resources Management Corp CT ADV raised its position in Super Micro Computer by 100.0% in the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock valued at $49,000 after purchasing an additional 30 shares during the period. Rise Advisors LLC lifted its stake in shares of Super Micro Computer by 909.5% in the 4th quarter. Rise Advisors LLC now owns 1,696 shares of the company’s stock valued at $52,000 after purchasing an additional 1,528 shares during the last quarter. Clear Point Advisors Inc. increased its position in shares of Super Micro Computer by 471.4% during the 2nd quarter. Clear Point Advisors Inc. now owns 80 shares of the company’s stock worth $66,000 after purchasing an additional 66 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Super Micro Computer in the 3rd quarter valued at about $87,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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.