Super Micro Computer (NASDAQ:SMCI) Trading 7.2% Higher – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price shot up 7.2% during trading on Monday . The company traded as high as $39.45 and last traded at $38.89. 42,111,167 shares traded hands during trading, an increase of 9% from the average session volume of 38,559,301 shares. The stock had previously closed at $36.28.

Analysts Set New Price Targets

A number of brokerages recently commented on SMCI. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Argus cut Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group lowered their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Wedbush lifted their price objective on Super Micro Computer from $24.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Super Micro Computer has a consensus rating of “Hold” and a consensus price target of $60.20.

Super Micro Computer Stock Up 2.8 %

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’s 50-day moving average price is $33.53 and its 200 day moving average price is $40.52. The firm has a market cap of $23.24 billion, a P/E ratio of 19.92 and a beta of 1.30.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. acquired a new position in Super Micro Computer in the 4th quarter worth approximately $30,000. Trust Co. of Vermont increased its position in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 900 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after buying an additional 954 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in Super Micro Computer during the fourth quarter worth about $31,000. 84.06% of the stock is owned by institutional investors and hedge funds.

Super Micro Computer Company Profile

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.