Super Micro Computer (NASDAQ:SMCI) Stock Price Up 9.7% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was up 9.7% during mid-day trading on Friday . The stock traded as high as $34.37 and last traded at $32.58. Approximately 63,629,762 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 81,992,211 shares. The stock had previously closed at $29.70.

Analyst Ratings Changes

A number of research firms recently commented on SMCI. Needham & Company LLC initiated coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective for the company. Mizuho initiated coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 target price (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 assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Super Micro Computer has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Price Performance

The stock has a market cap of $18.54 billion, a price-to-earnings ratio of 16.66 and a beta of 1.28. The company has a 50 day simple moving average of $38.23 and a 200-day simple moving average of $60.81. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently added to or reduced their stakes in SMCI. Farmers & Merchants Investments Inc. raised its holdings in shares of Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC bought a new stake in shares of Super Micro Computer during the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. lifted its holdings in Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in Super Micro Computer in the second quarter valued at approximately $42,000. Finally, First PREMIER Bank grew its holdings in shares of Super Micro Computer by 126.1% during the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after purchasing an additional 29 shares during the last quarter. 84.06% of the stock is currently owned by 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.