Wedbush Issues Positive Forecast for Super Micro Computer (NASDAQ:SMCI) Stock Price

Super Micro Computer (NASDAQ:SMCI) had its price objective raised by analysts at Wedbush from $24.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s target price would suggest a potential downside of 0.52% from the stock’s current price.

A number of other analysts have also commented on the company. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised their price target on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Northland Securities reiterated an “outperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.53.

Super Micro Computer Price Performance

Shares of SMCI stock traded up $1.60 during trading hours on Wednesday, reaching $40.21. 100,525,303 shares of the company were exchanged, compared to its average volume of 47,945,863. 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 company has a market cap of $23.55 billion, a price-to-earnings ratio of 20.15 and a beta of 1.30. The stock’s fifty day moving average is $33.53 and its two-hundred day moving average is $40.52. Super Micro Computer has a fifty-two week low of $17.25 and a fifty-two week high of $122.90.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust acquired a new stake in Super Micro Computer during the third quarter worth approximately $87,000. Miller Wealth Advisors LLC acquired a new position in shares of Super Micro Computer during the 3rd quarter valued at $152,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Super Micro Computer by 252.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock worth $156,000 after purchasing an additional 268 shares in the last quarter. Prospect Financial Services LLC bought a new position in Super Micro Computer in the third quarter worth approximately $208,000. Finally, Wealth Effects LLC grew its stake in Super Micro Computer by 90.7% in the third quarter. Wealth Effects LLC now owns 515 shares of the company’s stock valued at $214,000 after acquiring an additional 245 shares during the period. Institutional investors and hedge funds 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.