Super Micro Computer (NASDAQ:SMCI) Trading Up 2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price shot up 2% during trading on Wednesday . The stock traded as high as $37.14 and last traded at $35.11. 36,266,974 shares were traded during mid-day trading, a decline of 56% from the average session volume of 82,636,047 shares. The stock had previously closed at $34.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SMCI shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a report on Wednesday, August 28th. 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 assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Up 1.9 %

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 business’s fifty day simple moving average is $37.70 and its 200 day simple moving average is $59.71. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 17.61 and a beta of 1.28.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SMCI. International Assets Investment Management LLC lifted its holdings in Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after acquiring an additional 915,058 shares during the last quarter. Bridgewater Associates LP raised its position in shares of Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after purchasing an additional 145,327 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Super Micro Computer by 1,169.5% in the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock worth $56,077,000 after purchasing an additional 124,062 shares during the last quarter. American Century Companies Inc. boosted its position in Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after purchasing an additional 110,308 shares during the period. Finally, Inspire Investing LLC grew its stake in Super Micro Computer by 1,730.3% during the 3rd quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock worth $44,730,000 after buying an additional 101,552 shares during the last quarter. 84.06% of the stock is 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.