Super Micro Computer (NASDAQ:SMCI) Shares Up 0.3% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 0.3% on Thursday . The company traded as high as $35.41 and last traded at $34.42. 12,520,035 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 82,665,148 shares. The stock had previously closed at $34.33.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Barclays reduced their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. The Goldman Sachs Group decreased 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 report on Wednesday, November 6th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Down 0.7 %

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 firm has a fifty day moving average of $34.49 and a 200-day moving average of $53.03. The firm has a market cap of $19.07 billion, a P/E ratio of 17.12 and a beta of 1.29.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after purchasing an additional 61,071 shares during the last quarter. Assetmark Inc. lifted its position in shares of Super Micro Computer by 164.8% in the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after buying an additional 93,569 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Super Micro Computer by 254.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after acquiring an additional 21,997 shares during the period. Bridgewater Associates LP increased its holdings in shares of Super Micro Computer by 921.1% during 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 last quarter. Finally, Tidal Investments LLC raised its stake in Super Micro Computer by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after acquiring an additional 29,697 shares during the period. 84.06% of the stock is currently 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.