Super Micro Computer (NASDAQ:SMCI) Shares Gap Up Following Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $23.00 to $35.00. The stock had previously closed at $38.61, but opened at $42.30. JPMorgan Chase & Co. currently has an underweight rating on the stock. Super Micro Computer shares last traded at $40.86, with a volume of 63,742,524 shares.

SMCI has been the topic of several other research reports. Wedbush reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Northland Securities reaffirmed an “outperform” rating and set a $57.00 price target (up previously from $54.00) on shares of Super Micro Computer in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Finally, Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Super Micro Computer in the third quarter valued at about $87,000. Wealth Effects LLC raised its position in shares of Super Micro Computer by 90.7% in the 3rd quarter. Wealth Effects LLC now owns 515 shares of the company’s stock worth $214,000 after acquiring an additional 245 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Super Micro Computer by 2.3% during the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Super Micro Computer by 252.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock worth $156,000 after purchasing an additional 268 shares during the period. Finally, CWM LLC raised its holdings in Super Micro Computer by 11.7% in the third quarter. CWM LLC now owns 2,773 shares of the company’s stock worth $1,155,000 after purchasing an additional 290 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Price Performance

The firm has a 50-day simple moving average of $33.53 and a 200 day simple moving average of $40.52. The firm has a market cap of $23.79 billion, a PE ratio of 20.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

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.