Super Micro Computer (NASDAQ:SMCI) Price Target Raised to $35.00

Super Micro Computer (NASDAQ:SMCI) had its price objective hoisted by JPMorgan Chase & Co. from $23.00 to $35.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other research analysts also recently weighed in on the company. Loop Capital upped their price target on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Wedbush restated a “neutral” rating and set a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and a consensus price target of $60.20.

Super Micro Computer Price Performance

Shares of NASDAQ SMCI opened at $39.68 on Wednesday. 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’s 50-day moving average price is $33.48 and its 200-day moving average price is $40.30. The firm has a market capitalization of $23.24 billion, a P/E ratio of 19.92 and a beta of 1.30. Super Micro Computer has a 1-year low of $17.25 and a 1-year high of $122.90.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares during the period. Geode Capital Management LLC raised its stake in shares of Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after purchasing an additional 11,580,677 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Super Micro Computer by 968.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,651,134 shares of the company’s stock worth $111,287,000 after buying an additional 3,309,398 shares during the last quarter. Bank of New York Mellon Corp grew its position in Super Micro Computer by 798.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,944,620 shares of the company’s stock valued at $89,752,000 after buying an additional 2,616,757 shares during the period. Finally, Swiss National Bank grew its position in Super Micro Computer by 851.9% during the fourth quarter. Swiss National Bank now owns 1,488,800 shares of the company’s stock valued at $45,379,000 after buying an additional 1,332,400 shares during the period. 84.06% of the stock is owned by institutional investors.

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.