Super Micro Computer (NASDAQ:SMCI) Trading 0.7% Higher – Should You Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 0.7% during mid-day trading on Wednesday . The company traded as high as $41.82 and last traded at $40.49. 36,190,770 shares changed hands during trading, a decline of 57% from the average session volume of 83,743,203 shares. The stock had previously closed at $40.21.

Analysts Set New Price Targets

A number of research analysts have weighed in on SMCI shares. Loop Capital cut their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Wedbush restated a “neutral” rating and issued a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Up 3.2 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $37.23 and its two-hundred day moving average is $58.69. The company has a market cap of $23.21 billion, a P/E ratio of 20.33 and a beta of 1.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. Farmers & Merchants Investments Inc. raised its stake in shares of Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after acquiring an additional 24 shares during the last quarter. Moser Wealth Advisors LLC bought a new position in Super Micro Computer during the second quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. lifted its position in Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the period. AlphaCentric Advisors LLC bought a new position in Super Micro Computer in the second quarter worth approximately $42,000. Finally, First PREMIER Bank raised its position in Super Micro Computer by 126.1% in the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $43,000 after acquiring an additional 29 shares during the period. 84.06% of the stock is currently owned by hedge funds and other 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.