Super Micro Computer (NASDAQ:SMCI) Stock Price Up 6% – What’s Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 6% during mid-day trading on Wednesday . The company traded as high as $35.50 and last traded at $34.33. 41,339,738 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 82,951,336 shares. The stock had previously closed at $32.40.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SMCI shares. Barclays reduced their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Loop Capital reduced their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The firm has a 50 day moving average of $34.21 and a 200-day moving average of $52.90. 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 $18.87 billion, a P/E ratio of 16.94 and a beta of 1.29.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. grew its stake in Super Micro Computer by 391.8% during the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after acquiring an additional 61,071 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Super Micro Computer by 164.8% during the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after purchasing an additional 93,569 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Super Micro Computer by 254.7% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after purchasing an additional 21,997 shares in the last quarter. Bridgewater Associates LP increased its holdings in shares of Super Micro Computer by 921.1% in the third 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 last quarter. Finally, Tidal Investments LLC lifted its position in shares of Super Micro Computer by 143.8% in the third quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock worth $20,968,000 after buying an additional 29,697 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

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.