Super Micro Computer (NASDAQ:SMCI) Shares Up 3.2% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 3.2% on Friday . The company traded as high as $48.40 and last traded at $47.71. 12,061,495 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 79,853,953 shares. The stock had previously closed at $46.23.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SMCI shares. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. Susquehanna boosted their price target on shares of Super Micro Computer from $28.50 to $32.50 and gave the stock a “negative” rating in a research report on Monday, July 15th. StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Loop Capital dropped their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Super Micro Computer in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.53.

Super Micro Computer Price Performance

The company’s 50 day moving average price is $47.12 and its 200-day moving average price is $68.74. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 2.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Super Micro Computer (NASDAQ:SMCI) last released its earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.14). The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s revenue was up 142.9% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. On average, equities research analysts forecast that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Super Micro Computer

Institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management acquired a new stake in Super Micro Computer in the first quarter valued at approximately $313,000. Wealthcare Advisory Partners LLC acquired a new stake in Super Micro Computer in the first quarter valued at approximately $291,000. AlphaMark Advisors LLC acquired a new stake in Super Micro Computer in the first quarter valued at approximately $1,122,000. Westhampton Capital LLC acquired a new stake in Super Micro Computer in the first quarter valued at approximately $295,000. Finally, State of Michigan Retirement System lifted its stake in Super Micro Computer by 465.3% in the first quarter. State of Michigan Retirement System now owns 66,700 shares of the company’s stock valued at $67,369,000 after acquiring an additional 54,900 shares during the last quarter. 84.06% of the stock is currently 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.