Super Micro Computer (NASDAQ:SMCI) Trading 4.7% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was up 4.7% during mid-day trading on Friday . The stock traded as high as $33.47 and last traded at $32.72. Approximately 17,747,790 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 83,054,195 shares. The stock had previously closed at $31.24.

Analyst Ratings Changes

SMCI has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research note on Friday. Finally, Loop Capital dropped their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 15.86 and a beta of 1.29. The business’s 50 day moving average is $35.34 and its 200 day moving average is $54.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Trust N.A. boosted its position in Super Micro Computer by 7.5% during the 2nd quarter. Raymond James Trust N.A. now owns 3,947 shares of the company’s stock worth $3,234,000 after acquiring an additional 274 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of Super Micro Computer in the second quarter worth approximately $42,000. SlateStone Wealth LLC acquired a new stake in shares of Super Micro Computer during the second quarter worth approximately $683,000. Liontrust Investment Partners LLP purchased a new position in Super Micro Computer during the second quarter valued at approximately $9,914,000. Finally, State of Michigan Retirement System increased its stake in Super Micro Computer by 49.8% in the 2nd quarter. State of Michigan Retirement System now owns 99,900 shares of the company’s stock valued at $81,853,000 after buying an additional 33,200 shares during the period. Hedge funds and other institutional investors 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.