Super Micro Computer (NASDAQ:SMCI) Trading 9.1% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) was up 9.1% on Tuesday . The company traded as high as $35.45 and last traded at $35.35. Approximately 17,224,776 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 82,823,453 shares. The stock had previously closed at $32.40.

Analyst Ratings Changes

A number of analysts have recently weighed in on SMCI shares. The Goldman Sachs Group cut their target price on 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. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research note on Friday. Needham & Company LLC assumed 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. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. 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 investment analysts have rated the stock with a sell rating, eleven have assigned 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, the company has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Performance

The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 17.23 and a beta of 1.29. The stock has a 50 day moving average of $35.04 and a 200 day moving average of $53.64. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Trading of Super Micro Computer

Large investors have recently bought and sold shares of the business. Retirement Systems of Alabama lifted its position 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 valued at $4,733,000 after acquiring an additional 258 shares during the period. Synovus Financial Corp acquired a new position in shares of Super Micro Computer during the third quarter valued at about $443,000. Tidal Investments LLC boosted its position in shares of Super Micro Computer by 143.8% during the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock worth $20,968,000 after purchasing an additional 29,697 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of Super Micro Computer by 13,210.5% in the 3rd quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock valued at $23,722,000 after buying an additional 56,541 shares during the period. Finally, Sanctuary Advisors LLC increased its position 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 in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.