Super Micro Computer (NASDAQ:SMCI) Trading 1.4% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 1.4% during mid-day trading on Friday . The company traded as high as $34.08 and last traded at $33.08. 14,119,937 shares were traded during mid-day trading, a decline of 55% from the average session volume of 31,184,721 shares. The stock had previously closed at $32.61.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SMCI. Needham & Company LLC initiated coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price for the company. Loop Capital decreased their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Wedbush reiterated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Super Micro Computer presently has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Down 0.0 %

The business has a 50 day moving average of $32.02 and a two-hundred day moving average of $48.80. The stock has a market capitalization of $18.23 billion, a PE ratio of 16.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Institutional Trading of Super Micro Computer

Several hedge funds have recently modified their holdings of the company. Kathmere Capital Management LLC raised its stake in shares of Super Micro Computer by 5.0% during the 2nd quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after acquiring an additional 18 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Super Micro Computer by 7.0% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 428 shares of the company’s stock valued at $351,000 after purchasing an additional 28 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its position in shares of Super Micro Computer by 3.3% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 903 shares of the company’s stock worth $740,000 after purchasing an additional 29 shares in the last quarter. Steel Grove Capital Advisors LLC grew its stake in Super Micro Computer by 3.9% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 790 shares of the company’s stock worth $647,000 after buying an additional 30 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its position in Super Micro Computer by 100.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock valued at $49,000 after buying an additional 30 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.