Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Should You Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up prior to trading on Thursday . The stock had previously closed at $34.33, but opened at $35.09. Super Micro Computer shares last traded at $34.50, with a volume of 6,934,858 shares.

Wall Street Analysts Forecast Growth

SMCI has been the subject of several recent research reports. Cfra reissued a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group reduced their price objective 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. Three investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Up 0.3 %

The company has a fifty day simple moving average of $34.49 and a 200-day simple moving average of $53.03. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market cap of $19.27 billion, a P/E ratio of 17.29 and a beta of 1.29.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently added to or reduced their stakes in SMCI. Farmers & Merchants Investments Inc. lifted its stake in shares of Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after buying an additional 24 shares in the last quarter. Moser Wealth Advisors LLC purchased a new position in shares of Super Micro Computer in the second quarter valued at about $25,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the period. Resources Management Corp CT ADV grew its position in shares of Super Micro Computer by 100.0% during the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after purchasing an additional 30 shares in the last quarter. Finally, Clear Point Advisors Inc. raised its stake in Super Micro Computer by 471.4% during the 2nd quarter. Clear Point Advisors Inc. now owns 80 shares of the company’s stock valued at $66,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.