Super Micro Computer (NASDAQ:SMCI) Shares Up 9.3% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 9.3% during mid-day trading on Friday . The company traded as high as $47.33 and last traded at $46.21. 54,419,538 shares changed hands during trading, an increase of 4% from the average session volume of 52,286,293 shares. The stock had previously closed at $42.28.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday. Loop Capital lifted their target price on Super Micro Computer from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped 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. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Northland Securities reissued an “outperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.20.

Super Micro Computer Price Performance

The company’s 50 day moving average is $33.51 and its 200-day moving average is $40.31. The firm has a market capitalization of $27.10 billion, a price-to-earnings ratio of 23.22 and a beta of 1.30. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMCI. Rakuten Securities Inc. lifted its holdings in Super Micro Computer by 391.8% during the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after purchasing an additional 61,071 shares during the last quarter. Assetmark Inc. raised its position in shares of Super Micro Computer by 164.8% in the third 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 period. Clear Creek Financial Management LLC acquired a new stake in shares of Super Micro Computer during the 4th quarter worth about $635,000. Nepsis Inc. bought a new stake in shares of Super Micro Computer during the 4th quarter worth about $13,625,000. Finally, Sanctuary Advisors LLC grew its stake in Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after buying an additional 21,997 shares during the last quarter. 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.