Super Micro Computer (NASDAQ:SMCI) Trading Up 4.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded up 4.2% during mid-day trading on Tuesday . The company traded as high as $35.37 and last traded at $34.85. 20,529,174 shares changed hands during trading, a decline of 75% from the average session volume of 83,563,063 shares. The stock had previously closed at $33.44.

Analysts Set New Price Targets

SMCI has been the topic of a number of recent research reports. Needham & Company LLC assumed coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price on the stock. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Finally, Cfra restated a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Up 1.9 %

The stock’s fifty day simple moving average is $35.97 and its two-hundred day simple moving average is $54.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of 16.49 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. International Assets Investment Management LLC lifted its stake in Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after buying an additional 915,058 shares during the last quarter. Bridgewater Associates LP increased its holdings in shares of Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after acquiring an additional 145,327 shares during the period. Van ECK Associates Corp boosted its stake in 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 valued at $56,077,000 after purchasing an additional 124,062 shares during the period. American Century Companies Inc. boosted its stake in Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after purchasing an additional 110,308 shares during the period. Finally, Inspire Investing LLC grew its position in Super Micro Computer by 1,730.3% in the 3rd quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock worth $44,730,000 after purchasing an additional 101,552 shares during the last quarter. 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.