Super Micro Computer (NASDAQ:SMCI) Trading Up 4.3% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded up 4.3% on Tuesday . The company traded as high as $33.49 and last traded at $32.13. 17,967,497 shares were traded during mid-day trading, a decline of 39% from the average session volume of 29,461,273 shares. The stock had previously closed at $30.82.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SMCI shares. StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Barclays lowered their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Performance

The firm’s fifty day moving average price is $32.74 and its 200-day moving average price is $46.31. The company has a market cap of $18.11 billion, a P/E ratio of 16.28 and a beta of 1.31. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently added to or reduced their stakes in SMCI. Rakuten Securities Inc. boosted 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 buying an additional 61,071 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Super Micro Computer by 164.8% in the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after purchasing an additional 93,569 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after acquiring an additional 21,997 shares during the last quarter. Bridgewater Associates LP increased its position 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 valued at $67,084,000 after buying an additional 145,327 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in Super Micro Computer during the 4th quarter worth approximately $277,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.