Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Still a Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $18.58, but opened at $20.03. Super Micro Computer shares last traded at $20.38, with a volume of 42,883,115 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on SMCI. StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wedbush restated a “neutral” rating and issued a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Mizuho began coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, Needham & Company LLC started coverage on Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business has a 50 day simple moving average of $39.66 and a 200-day simple moving average of $62.46. The company has a market capitalization of $12.13 billion, a P/E ratio of 10.46 and a beta of 1.28.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after purchasing an additional 88,692 shares in the last quarter. GQG Partners LLC acquired a new position in Super Micro Computer during the first quarter valued at approximately $1,325,466,000. Geode Capital Management LLC raised its holdings 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 worth $529,753,000 after acquiring an additional 16,007 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Super Micro Computer by 3.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after purchasing an additional 31,064 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Super Micro Computer by 63,634.1% during 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. 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.