Super Micro Computer (NASDAQ:SMCI) Sees Large Volume Increase – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) saw an uptick in trading volume on Tuesday . 53,875,777 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 80,999,086 shares.The stock last traded at $26.84 and had previously closed at $21.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research note on Wednesday, August 7th. Barclays reduced their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Down 8.7 %

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 cap of $14.43 billion, a P/E ratio of 12.95 and a beta of 1.28. The stock has a 50-day moving average price of $38.76 and a 200-day moving average price of $61.38.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently bought and sold shares of SMCI. Assetmark Inc. lifted its holdings in shares of Super Micro Computer by 164.8% during the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock worth $62,599,000 after acquiring an additional 93,569 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Super Micro Computer by 391.8% during the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after purchasing an additional 61,071 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Super Micro Computer by 128.2% in the 3rd quarter. Victory Capital Management Inc. now owns 42,642 shares of the company’s stock worth $17,756,000 after purchasing an additional 23,959 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Super Micro Computer during the 1st quarter valued at about $98,000. Finally, SG Americas Securities LLC boosted its stake in Super Micro Computer by 24.8% in the second quarter. SG Americas Securities LLC now owns 15,432 shares of the company’s stock worth $12,644,000 after buying an additional 3,064 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.