Super Micro Computer (NASDAQ:SMCI) Shares Up 8.4% – Here’s What Happened

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

Analyst Ratings Changes

A number of research firms recently issued reports on SMCI. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Nomura downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Wednesday, July 10th. Barclays decreased their target price 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. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $50.00 to $23.00 in a research report on Wednesday. Finally, Loop Capital lowered their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Price Performance

The company has a market capitalization of $14.22 billion, a price-to-earnings ratio of 12.37 and a beta of 1.28. The business has a fifty day moving average price of $43.36 and a 200 day moving average price of $65.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The company had revenue of $5.31 billion during 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 company’s revenue was up 142.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, 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

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after buying an additional 1,265,542 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Super Micro Computer in the 1st quarter worth $1,325,466,000. International Assets Investment Management LLC raised its position in shares of Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Super Micro Computer by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after purchasing an additional 2,011 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Super Micro Computer by 1.1% during the first quarter. Swiss National Bank now owns 150,600 shares of the company’s stock valued at $152,111,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds 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.