Super Micro Computer (NASDAQ:SMCI) Trading Up 9.1% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 9.1% during trading on Tuesday . The company traded as high as $35.45 and last traded at $35.35. 17,224,776 shares traded hands during trading, a decline of 79% from the average session volume of 82,823,453 shares. The stock had previously closed at $32.40.

Wall Street Analyst Weigh In

Several analysts have recently commented on SMCI shares. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Mizuho assumed coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. The Goldman Sachs Group lowered their target price 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. Finally, Cfra reaffirmed a “hold” rating and issued a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Super Micro Computer currently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Up 6.0 %

The firm has a market capitalization of $19.20 billion, a PE ratio of 17.23 and a beta of 1.29. The stock has a 50-day simple moving average of $34.49 and a 200-day simple moving average of $53.03. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. State Street Corp boosted its position in Super Micro Computer by 4.3% during the third quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after purchasing an additional 88,692 shares during the period. Geode Capital Management LLC raised its position in shares of Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after purchasing an additional 16,007 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in Super Micro Computer by 3.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after buying an additional 31,064 shares during the period. International Assets Investment Management LLC boosted 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 worth $381,629,000 after buying an additional 915,058 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Super Micro Computer by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after acquiring an additional 2,011 shares during the period. 84.06% of the stock is currently owned by institutional investors.

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.