Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price 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 traded.

Analyst Ratings Changes

SMCI has been the subject of several recent analyst reports. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Down 1.0 %

The company has a market cap of $17.24 billion, a PE ratio of 15.47 and a beta of 1.31. The business has a 50-day simple moving average of $32.59 and a 200-day simple moving average of $47.18. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Super Micro Computer by 4.3% during the third quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after purchasing an additional 88,692 shares in the last quarter. Geode Capital Management LLC lifted its stake in Super Micro Computer by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after buying an additional 16,007 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Super Micro Computer by 3.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after buying an additional 31,064 shares during the last quarter. International Assets Investment Management LLC increased its stake in Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after buying an additional 915,058 shares in the last quarter. Finally, Annex Advisory Services LLC acquired a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $6,708,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.