Super Micro Computer (NASDAQ:SMCI) Trading Up 4.7% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded up 4.7% during trading on Thursday . The company traded as high as $34.45 and last traded at $32.97. 29,967,613 shares traded hands during trading, a decline of 15% from the average session volume of 35,457,250 shares. The stock had previously closed at $31.49.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, Loop Capital lifted their target price on shares of Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.89.

Super Micro Computer Stock Up 7.0 %

The firm has a market capitalization of $19.72 billion, a P/E ratio of 16.91 and a beta of 1.30. The firm’s 50-day moving average is $33.50 and its 200 day moving average is $41.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust bought a new stake in Super Micro Computer during the 3rd quarter worth about $87,000. Miller Wealth Advisors LLC bought a new stake in Super Micro Computer during the 3rd quarter worth about $152,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in 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 buying an additional 268 shares in the last quarter. Prospect Financial Services LLC bought a new stake in Super Micro Computer during the 3rd quarter worth about $208,000. Finally, Wealth Effects LLC lifted its position in Super Micro Computer by 90.7% during the 3rd quarter. Wealth Effects LLC now owns 515 shares of the company’s stock worth $214,000 after buying an additional 245 shares in the last quarter. 84.06% of the stock is 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.