Super Micro Computer (NASDAQ:SMCI) Shares Up 2% – Should You Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) was up 2% during mid-day trading on Wednesday . The stock traded as high as $37.14 and last traded at $35.11. Approximately 36,266,974 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 82,636,047 shares. The stock had previously closed at $34.43.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SMCI shares. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Super Micro Computer in a report on Wednesday, August 7th. Wells Fargo & Company cut their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Loop Capital cut their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Needham & Company LLC started coverage on Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price on the stock. Finally, The Goldman Sachs Group cut their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Super Micro Computer has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Up 2.3 %

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $19.71 billion, a price-to-earnings ratio of 17.63 and a beta of 1.28. The stock has a fifty day moving average of $37.87 and a 200-day moving average of $60.03.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently modified their holdings of the stock. Synovus Financial Corp acquired a new position in shares of Super Micro Computer in the 3rd quarter worth $443,000. Tidal Investments LLC grew its holdings in shares of Super Micro Computer by 143.8% during the third quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after buying an additional 29,697 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of Super Micro Computer by 13,210.5% during the third quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock valued at $23,722,000 after buying an additional 56,541 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Super Micro Computer by 254.7% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after buying an additional 21,997 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC purchased a new position in shares of Super Micro Computer during the third quarter valued at $1,143,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.