Super Micro Computer (NASDAQ:SMCI) Trading Up 1% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 1% during trading on Thursday . The stock traded as high as $28.63 and last traded at $28.07. Approximately 7,242,454 shares changed hands during trading, a decline of 77% from the average daily volume of 31,838,777 shares. The stock had previously closed at $27.80.

Wall Street Analysts Forecast Growth

SMCI has been the subject of a number of recent analyst reports. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Wedbush restated a “neutral” rating and issued a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.89.

Super Micro Computer Stock Performance

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 company has a market cap of $15.95 billion, a P/E ratio of 14.32 and a beta of 1.31. The business’s 50 day simple moving average is $33.91 and its 200 day simple moving average is $43.28.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently bought and sold shares of SMCI. Global Retirement Partners LLC grew its holdings in Super Micro Computer by 1,578.9% during the 4th quarter. Global Retirement Partners LLC now owns 11,366 shares of the company’s stock valued at $346,000 after buying an additional 10,689 shares in the last quarter. New York State Common Retirement Fund grew its stake in Super Micro Computer by 823.2% during the fourth quarter. New York State Common Retirement Fund now owns 270,290 shares of the company’s stock valued at $8,238,000 after acquiring an additional 241,011 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Super Micro Computer in the 4th quarter valued at $966,000. Venturi Wealth Management LLC lifted its stake in Super Micro Computer by 9,996.8% in the 4th quarter. Venturi Wealth Management LLC now owns 3,130 shares of the company’s stock worth $95,000 after purchasing an additional 3,099 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Super Micro Computer by 529.6% during the 4th quarter. D.A. Davidson & CO. now owns 15,306 shares of the company’s stock valued at $467,000 after purchasing an additional 12,875 shares during the last quarter. 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.