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

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up before the market opened on Monday . The stock had previously closed at $33.15, but opened at $36.03. Super Micro Computer shares last traded at $36.69, with a volume of 21,909,701 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Loop Capital dropped their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Up 11.4 %

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 market cap of $20.66 billion, a PE ratio of 19.25 and a beta of 1.28. The business’s 50-day simple moving average is $38.23 and its 200 day simple moving average is $60.66.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew 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 worth $381,629,000 after acquiring an additional 915,058 shares during the last quarter. Bridgewater Associates LP grew its position in shares of Super Micro Computer by 921.1% during the third 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 last quarter. Van ECK Associates Corp grew its position in shares of Super Micro Computer by 1,169.5% during the third quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock worth $56,077,000 after acquiring an additional 124,062 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Super Micro Computer by 511.9% during the second quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock worth $108,035,000 after purchasing an additional 110,308 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Super Micro Computer by 1,730.3% during the third 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 period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.