Super Micro Computer (NASDAQ:SMCI) Given New $35.00 Price Target at JPMorgan Chase & Co.

Super Micro Computer (NASDAQ:SMCI) had its target price raised by JPMorgan Chase & Co. from $23.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 14.35% from the stock’s current price.

A number of other analysts also recently commented on the company. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital boosted their target price on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wedbush restated a “neutral” rating and set a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.00.

Super Micro Computer Stock Performance

Shares of Super Micro Computer stock traded up $2.25 during trading on Wednesday, hitting $40.86. 63,742,524 shares of the company’s stock were exchanged, compared to its average volume of 46,210,051. Super Micro Computer has a 52-week low of $17.25 and a 52-week high of $122.90. 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 stock has a market capitalization of $23.93 billion, a price-to-earnings ratio of 20.54 and a beta of 1.30. The business has a 50-day simple moving average of $33.53 and a 200-day simple moving average of $40.52.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its position in Super Micro Computer by 11.7% in the 3rd quarter. CWM LLC now owns 2,773 shares of the company’s stock valued at $1,155,000 after acquiring an additional 290 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Super Micro Computer by 252.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock valued at $156,000 after purchasing an additional 268 shares during the period. Exchange Traded Concepts LLC increased its stake in Super Micro Computer by 276.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,779 shares of the company’s stock worth $741,000 after buying an additional 1,307 shares during the period. Creative Planning grew its stake in shares of Super Micro Computer by 9.1% in the third quarter. Creative Planning now owns 9,038 shares of the company’s stock worth $3,763,000 after acquiring an additional 755 shares in the last quarter. Finally, Prospect Financial Services LLC purchased a new position in Super Micro Computer in the third quarter valued at $208,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.