Super Micro Computer (NASDAQ:SMCI) Shares Up 2.8% After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 2.8% during trading on Friday after Loop Capital raised their price target on the stock from $35.00 to $40.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $34.70 and last traded at $34.36. 13,967,897 shares were traded during trading, a decline of 54% from the average session volume of 30,618,381 shares. The stock had previously closed at $33.41.

Several other research firms also recently issued reports on SMCI. Barclays decreased their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group dropped 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. Wedbush restated a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Three 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.89.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in shares of Super Micro Computer by 5,850.0% in the second quarter. Quarry LP now owns 119 shares of the company’s stock valued at $98,000 after acquiring an additional 117 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in Super Micro Computer during the third quarter worth about $87,000. Daymark Wealth Partners LLC grew its holdings in shares of Super Micro Computer by 50.5% during the second quarter. Daymark Wealth Partners LLC now owns 301 shares of the company’s stock worth $247,000 after purchasing an additional 101 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of Super Micro Computer during the second quarter worth about $269,000. Finally, Anchor Investment Management LLC lifted its position in shares of Super Micro Computer by 13.7% in the 2nd quarter. Anchor Investment Management LLC now owns 324 shares of the company’s stock worth $265,000 after purchasing an additional 39 shares during the period. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Stock Up 2.8 %

The stock’s 50-day moving average price is $33.53 and its 200-day moving average price is $45.50. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 17.25 and a beta of 1.31. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

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.