Super Micro Computer (NASDAQ:SMCI) Trading Up 4.2% After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was up 4.2% during mid-day trading on Thursday after Loop Capital raised their price target on the stock from $40.00 to $50.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $41.69 and last traded at $41.36. 40,624,294 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 49,863,598 shares. The stock had previously closed at $39.68.

A number of other equities analysts have also recently issued reports on the stock. Northland Securities reissued an “outperform” rating and issued a $57.00 target price (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday. Wedbush increased their target price on Super Micro Computer from $24.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Three research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.20.

Institutional Investors Weigh In On Super Micro Computer

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Super Micro Computer by 908.4% in the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Super Micro Computer by 914.7% in the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the period. FMR LLC acquired a new stake in shares of Super Micro Computer in the fourth quarter worth $292,869,000. Invesco Ltd. lifted its stake in shares of Super Micro Computer by 929.5% in the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after buying an additional 6,810,082 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Super Micro Computer by 649.5% in the 4th quarter. Legal & General Group Plc now owns 3,739,323 shares of the company’s stock valued at $113,975,000 after buying an additional 3,240,401 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Stock Up 5.0 %

The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 20.96 and a beta of 1.30. 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 business’s 50 day moving average is $33.48 and its 200-day moving average is $40.30.

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.