Super Micro Computer (NASDAQ:SMCI) Trading 27.9% Higher – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 27.9% during mid-day trading on Tuesday . The stock traded as high as $28.55 and last traded at $27.54. 100,542,758 shares changed hands during trading, an increase of 24% from the average session volume of 81,207,422 shares. The stock had previously closed at $21.54.

Analyst Upgrades and Downgrades

SMCI has been the topic of several research analyst reports. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered 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. Wedbush restated a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price target on shares of Super Micro Computer in a report on Wednesday, August 7th. Finally, Barclays reduced their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Up 33.3 %

The company has a market cap of $16.06 billion, a P/E ratio of 13.83 and a beta of 1.28. The firm’s 50 day moving average price is $39.32 and its two-hundred day moving average price is $62.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Institutional Investors Weigh In On Super Micro Computer

Several large investors have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. increased its holdings in Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after buying an additional 24 shares during the last quarter. Moser Wealth Advisors LLC purchased a new position in shares of Super Micro Computer during the 2nd quarter valued at $25,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after purchasing an additional 24 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of Super Micro Computer in the second quarter worth $42,000. Finally, First PREMIER Bank raised its holdings in shares of Super Micro Computer by 126.1% in the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after acquiring an additional 29 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other 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.