Super Micro Computer (NASDAQ:SMCI) Shares Up 4.7% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 4.7% on Thursday . The company traded as high as $34.45 and last traded at $32.97. 29,967,613 shares changed hands during trading, a decline of 15% from the average session volume of 35,457,250 shares. The stock had previously closed at $31.49.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Loop Capital boosted their price target on shares of Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and an average target price of $62.89.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a 50 day moving average of $33.55 and a two-hundred day moving average of $41.46. The stock has a market capitalization of $21.24 billion, a PE ratio of 18.21 and a beta of 1.30.

Hedge Funds Weigh In On Super Micro Computer

A number of large investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. purchased a new stake in shares of Super Micro Computer in the fourth quarter valued at about $30,000. Trust Co. of Vermont lifted its stake in shares of Super Micro Computer by 900.0% during the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares during the period. Finally, Toth Financial Advisory Corp acquired a new position in Super Micro Computer in the fourth quarter valued at $31,000. Hedge funds and other institutional investors 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.