Super Micro Computer (NASDAQ:SMCI) Trading 1.9% Higher – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 1.9% during trading on Thursday . The company traded as high as $37.14 and last traded at $35.07. 63,047,277 shares changed hands during trading, a decline of 24% from the average session volume of 82,768,188 shares. The stock had previously closed at $34.43.

Analyst Upgrades and Downgrades

SMCI has been the subject of several research reports. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Cfra reiterated a “hold” rating and issued a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Wedbush reissued a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Loop Capital cut their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Bank of America cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the company from $109.00 to $70.00 in a report on Wednesday, August 7th. Three equities 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 presently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Up 1.9 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market cap of $19.62 billion, a P/E ratio of 17.61 and a beta of 1.28. The stock has a 50-day moving average price of $37.70 and a 200-day moving average price of $59.71.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. raised its position 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 bought a new position in Super Micro Computer in the second quarter valued at $25,000. Hazlett Burt & Watson Inc. raised 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 in the last quarter. AlphaCentric Advisors LLC bought a new stake in Super Micro Computer during the second quarter worth about $42,000. Finally, First PREMIER Bank boosted its holdings in shares of Super Micro Computer by 126.1% in the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $43,000 after purchasing an additional 29 shares in the last quarter. 84.06% of the stock is currently owned by 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.