Super Micro Computer (NASDAQ:SMCI) Shares Up 5.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was up 5.6% during mid-day trading on Thursday . The company traded as high as $28.11 and last traded at $27.24. Approximately 35,256,285 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 81,707,195 shares. The stock had previously closed at $25.80.

Wall Street Analysts Forecast Growth

SMCI has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective 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. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Cfra reissued a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Price Performance

The stock has a fifty day moving average of $38.23 and a two-hundred day moving average of $60.96. The stock has a market cap of $18.54 billion, a price-to-earnings ratio of 16.64 and a beta of 1.28. 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

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in Super Micro Computer by 63,634.1% in the 3rd 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 increased its position in shares of Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after buying an additional 145,327 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of 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 worth $56,077,000 after buying an additional 124,062 shares during the last quarter. American Century Companies Inc. grew its stake in Super Micro Computer by 511.9% in the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after acquiring an additional 110,308 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in 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 in the last quarter. 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.