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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $42.00, but opened at $44.42. Super Micro Computer shares last traded at $43.98, with a volume of 39,715,081 shares changing hands.

Analyst Ratings Changes

SMCI has been the subject of a number of analyst reports. Wedbush restated a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and cut their price target for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Mizuho began coverage on Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective for the company. Barclays decreased their price objective on shares of 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. Finally, StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Price Performance

The stock has a 50 day moving average price of $37.30 and a 200-day moving average price of $59.06. 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 market capitalization of $22.89 billion, a price-to-earnings ratio of 19.59 and a beta of 1.29.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after purchasing an additional 88,692 shares during the last quarter. Geode Capital Management LLC grew its position in Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock worth $529,753,000 after acquiring an additional 16,007 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Super Micro Computer by 3.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after purchasing an additional 31,064 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Super Micro Computer by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after buying an additional 2,011 shares during the period. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.