Super Micro Computer (NASDAQ:SMCI) Shares Up 8.4% – Time to Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 8.4% during trading on Thursday . The company traded as high as $24.64 and last traded at $24.61. 26,048,389 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 80,690,367 shares. The stock had previously closed at $22.70.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMCI. Loop Capital cut their price target on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their target price for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wedbush reiterated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, Barclays decreased their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The company has a market cap of $13.71 billion, a price-to-earnings ratio of 12.31 and a beta of 1.28. 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 business has a 50-day moving average price of $41.93 and a 200 day moving average price of $64.79.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. As a group, research analysts expect that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Super Micro Computer

Hedge funds have recently bought and sold shares of the company. Invst LLC raised its holdings in shares of Super Micro Computer by 4.3% during the first quarter. Invst LLC now owns 337 shares of the company’s stock valued at $350,000 after acquiring an additional 14 shares during the period. Byrne Asset Management LLC lifted its holdings in shares of Super Micro Computer by 10.4% in the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock valued at $132,000 after purchasing an additional 14 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Super Micro Computer by 30.0% in the second quarter. Versant Capital Management Inc now owns 65 shares of the company’s stock worth $53,000 after buying an additional 15 shares during the period. Forum Financial Management LP boosted its position in shares of Super Micro Computer by 0.8% in the first quarter. Forum Financial Management LP now owns 1,943 shares of the company’s stock worth $1,962,000 after buying an additional 16 shares during the period. Finally, Fielder Capital Group LLC raised its position in Super Micro Computer by 2.8% during the second quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock valued at $475,000 after buying an additional 16 shares during the period. 84.06% of the stock is owned by hedge funds and other 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.