Super Micro Computer (NASDAQ:SMCI) Trading 9.2% Higher – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 9.2% during mid-day trading on Monday . The company traded as high as $38.50 and last traded at $36.38. 32,741,279 shares traded hands during trading, an increase of 11% from the average session volume of 29,473,436 shares. The stock had previously closed at $33.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SMCI shares. Mizuho started coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Needham & Company LLC initiated coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Down 5.1 %

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 firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31. The business has a fifty day moving average price of $31.83 and a two-hundred day moving average price of $49.67.

Institutional Trading of Super Micro Computer

Several large investors have recently made changes to their positions in the business. Hazlett Burt & Watson Inc. lifted its position in Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the period. Resources Management Corp CT ADV boosted its stake in shares of Super Micro Computer by 100.0% in the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after buying an additional 30 shares during the last quarter. Clear Point Advisors Inc. grew its holdings in Super Micro Computer by 471.4% during the second quarter. Clear Point Advisors Inc. now owns 80 shares of the company’s stock worth $66,000 after acquiring an additional 66 shares during the period. Quarry LP grew its holdings in Super Micro Computer by 5,850.0% during the second quarter. Quarry LP now owns 119 shares of the company’s stock worth $98,000 after acquiring an additional 117 shares during the period. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Super Micro Computer during the third quarter valued at approximately $87,000. 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.