Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up prior to trading on Thursday . The stock had previously closed at $30.99, but opened at $31.90. Super Micro Computer shares last traded at $31.42, with a volume of 5,952,235 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SMCI shares. Needham & Company LLC began coverage on Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target on the stock. Loop Capital decreased their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Super Micro Computer has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Price Performance

The firm’s fifty day simple moving average is $32.18 and its 200-day simple moving average is $47.77. The firm has a market capitalization of $17.67 billion, a PE ratio of 15.86 and a beta of 1.31. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. International Assets Investment Management LLC lifted its holdings in shares of Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after purchasing an additional 915,058 shares in the last quarter. Bridgewater Associates LP raised its position in Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after buying an additional 145,327 shares during the last quarter. Van ECK Associates Corp lifted its stake in Super Micro Computer by 1,169.5% during the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock valued at $56,077,000 after acquiring an additional 124,062 shares during the period. Inspire Investing LLC boosted its holdings in shares of Super Micro Computer by 1,730.3% during the 3rd quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock valued at $44,730,000 after acquiring an additional 101,552 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Super Micro Computer by 963.7% in the fourth quarter. Czech National Bank now owns 109,175 shares of the company’s stock worth $3,328,000 after acquiring an additional 98,911 shares during the period. 84.06% of the stock is owned by 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.