Super Micro Computer (NASDAQ:SMCI) Trading 5.6% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price rose 5.6% during trading on Thursday . The company traded as high as $28.11 and last traded at $27.24. Approximately 35,256,285 shares traded hands during trading, a decline of 57% from the average daily volume of 81,707,195 shares. The stock had previously closed at $25.80.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SMCI shares. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Super Micro Computer in a report on Wednesday, August 7th. Wedbush reissued 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. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, Loop Capital decreased their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Three equities research 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’s stock. Based on data from MarketBeat, Super Micro Computer has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Price Performance

The company has a market cap of $16.58 billion, a PE ratio of 13.67 and a beta of 1.28. 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 50 day simple moving average of $38.76 and a 200-day simple moving average of $61.38.

Hedge Funds Weigh In On Super Micro Computer

A number of large investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Super Micro Computer by 164.8% during the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after acquiring an additional 93,569 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Super Micro Computer by 391.8% during the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after acquiring an additional 61,071 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Super Micro Computer by 128.2% during the third quarter. Victory Capital Management Inc. now owns 42,642 shares of the company’s stock valued at $17,756,000 after acquiring an additional 23,959 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Super Micro Computer during the first quarter valued at about $98,000. Finally, SG Americas Securities LLC increased its holdings in shares of Super Micro Computer by 24.8% during the second quarter. SG Americas Securities LLC now owns 15,432 shares of the company’s stock valued at $12,644,000 after acquiring an additional 3,064 shares in the last quarter. 84.06% of the stock is currently owned by 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.