Super Micro Computer (NASDAQ:SMCI) Stock Price Up 12.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 12.2% on Monday . The stock traded as high as $22.70 and last traded at $20.84. Approximately 57,426,273 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 80,447,500 shares. The stock had previously closed at $18.58.

Analyst Upgrades and Downgrades

SMCI has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Barclays cut their price objective on 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 downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their target price for the company 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 assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $39.06 and a two-hundred day simple moving average of $61.75. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 14.21 and a beta of 1.28.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SMCI. Farmers & Merchants Investments Inc. increased its position in Super Micro Computer by 400.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the last quarter. Moser Wealth Advisors LLC acquired a new position in shares of Super Micro Computer during the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Super Micro Computer by 141.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after acquiring an additional 24 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Super Micro Computer during the 2nd quarter valued at about $42,000. Finally, First PREMIER Bank increased its holdings in shares of Super Micro Computer by 126.1% during the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after acquiring an additional 29 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

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.