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

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up prior to trading on Thursday . The stock had previously closed at $30.99, but opened at $31.90. Super Micro Computer shares last traded at $31.42, with a volume of 5,952,235 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMCI. Barclays reduced their price objective 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. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Needham & Company LLC started coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price for the company. Finally, Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Up 1.9 %

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 company has a market capitalization of $17.67 billion, a PE ratio of 15.86 and a beta of 1.31. The stock has a fifty day moving average of $32.18 and a 200 day moving average of $47.77.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently modified their holdings of SMCI. International Assets Investment Management LLC increased its holdings in Super Micro Computer by 63,634.1% in the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after acquiring an additional 915,058 shares during the last quarter. Bridgewater Associates LP lifted its position in shares of Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after buying an additional 145,327 shares in the last quarter. Van ECK Associates Corp grew its holdings in Super Micro Computer by 1,169.5% during the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock valued at $56,077,000 after buying an additional 124,062 shares in the last quarter. Inspire Investing LLC raised its position in shares of Super Micro Computer by 1,730.3% during the 3rd quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock valued at $44,730,000 after buying an additional 101,552 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Super Micro Computer by 963.7% in the 4th quarter. Czech National Bank now owns 109,175 shares of the company’s stock valued at $3,328,000 after acquiring an additional 98,911 shares during the last quarter. 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.