Super Micro Computer (NASDAQ:SMCI) Stock Price Up 1.6% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 1.6% on Thursday . The company traded as high as $32.82 and last traded at $31.49. 11,984,337 shares changed hands during trading, a decline of 60% from the average session volume of 29,826,801 shares. The stock had previously closed at $30.99.

Wall Street Analysts Forecast Growth

SMCI has been the subject of a number of recent research reports. Loop Capital decreased their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Barclays decreased their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The stock has a fifty day simple moving average of $32.35 and a two-hundred day simple moving average of $47.41. The company has a market cap of $17.64 billion, a PE ratio of 15.94 and a beta of 1.31. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of Super Micro Computer by 59.4% during the second quarter. Parallel Advisors LLC now owns 373 shares of the company’s stock worth $306,000 after purchasing an additional 139 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Super Micro Computer by 101.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,782 shares of the company’s stock valued at $17,028,000 after acquiring an additional 10,469 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in Super Micro Computer in the 2nd quarter valued at $436,000. Dimensional Fund Advisors LP increased its holdings in Super Micro Computer by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in shares of Super Micro Computer by 417.4% during the second quarter. Edgestream Partners L.P. now owns 2,173 shares of the company’s stock worth $1,780,000 after purchasing an additional 1,753 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

About Super Micro Computer

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.