Super Micro Computer (NASDAQ:SMCI) Trading 4.7% Higher – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 4.7% during trading on Friday . The company traded as high as $33.47 and last traded at $32.72. 17,747,790 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 83,054,195 shares. The stock had previously closed at $31.24.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a report on Friday. Needham & Company LLC started coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target for the company. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, four 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 $66.89.

Super Micro Computer Trading Up 1.1 %

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 $35.34 and its two-hundred day moving average is $54.30. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 15.86 and a beta of 1.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SMCI. Retirement Systems of Alabama lifted its stake in Super Micro Computer by 2.3% in the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after buying an additional 258 shares during the last quarter. Synovus Financial Corp bought a new stake in Super Micro Computer in the 3rd quarter valued at about $443,000. Tidal Investments LLC lifted its position in Super Micro Computer by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after purchasing an additional 29,697 shares during the last quarter. World Investment Advisors LLC boosted its stake in Super Micro Computer by 13,210.5% during the 3rd quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock valued at $23,722,000 after purchasing an additional 56,541 shares during the period. Finally, Sanctuary Advisors LLC grew its position in Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after purchasing an additional 21,997 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

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.