Super Micro Computer (NASDAQ:SMCI) Trading Up 12.2% – Here’s What Happened

by · The Cerbat Gem

Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report)’s share price rose 12.2% during mid-day trading on Monday . The stock traded as high as $22.70 and last traded at $20.84. Approximately 57,426,273 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 80,447,500 shares. The stock had previously closed at $18.58.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several research analyst reports. Loop Capital lowered their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. 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 report on Wednesday, August 28th. Bank of America cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and cut their target price for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Needham & Company LLC started coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Barclays lowered their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Three 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 data from MarketBeat.com, Super Micro Computer currently has a consensus rating of “Hold” and an average target price of $66.89.

Get Our Latest Report on SMCI

Super Micro Computer Stock Up 20.1 %

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 stock has a market capitalization of $12.48 billion, a P/E ratio of 10.46 and a beta of 1.28. The stock’s 50-day moving average price is $39.66 and its two-hundred day moving average price is $62.46.

Institutional Trading of Super Micro Computer

Institutional investors and hedge funds have recently bought and sold shares of the company. Strait & Sound Wealth Management LLC bought a new stake in Super Micro Computer in the 3rd quarter worth approximately $1,143,000. Geode Capital Management LLC boosted its holdings in Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after acquiring an additional 16,007 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Super Micro Computer by 3.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after buying an additional 31,064 shares during the period. M&T Bank Corp raised its position in shares of Super Micro Computer by 142.6% in the 3rd quarter. M&T Bank Corp now owns 2,681 shares of the company’s stock worth $1,117,000 after acquiring an additional 1,576 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in Super Micro Computer during the third quarter valued at $646,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

About Super Micro Computer

(Get Free Report)

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.

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