Super Micro Computer (NASDAQ:SMCI) Shares Up 3.2% on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 3.2% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $23.00 to $35.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Super Micro Computer traded as high as $43.89 and last traded at $39.86. 90,546,589 shares traded hands during trading, an increase of 91% from the average session volume of 47,351,418 shares. The stock had previously closed at $38.61.

Several other equities analysts also recently issued reports on the stock. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Cfra raised shares of 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. The Goldman Sachs Group cut their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Northland Securities reaffirmed an “outperform” rating and set a $57.00 price target (up previously from $54.00) on shares of Super Micro Computer in a research note on Wednesday. Finally, Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.00.

Institutional Trading of Super Micro Computer

A number of institutional investors and hedge funds have recently modified their holdings of SMCI. Emerald Mutual Fund Advisers Trust bought a new position in shares of Super Micro Computer during the 3rd quarter worth about $87,000. Wealth Effects LLC lifted its holdings in shares of 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 acquiring an additional 245 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Super Micro Computer by 2.3% during the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after acquiring an additional 258 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings 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 acquiring an additional 268 shares during the period. Finally, CWM LLC lifted its holdings in shares of Super Micro Computer by 11.7% during the 3rd quarter. CWM LLC now owns 2,773 shares of the company’s stock worth $1,155,000 after acquiring an additional 290 shares during the period. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Stock Up 3.6 %

The business’s fifty day moving average price is $33.53 and its 200 day moving average price is $40.52. The company has a market capitalization of $23.41 billion, a P/E ratio of 20.04 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.

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.