Super Micro Computer (NASDAQ:SMCI) Stock Price Up 3.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded up 3.6% on Friday . The stock traded as high as $36.96 and last traded at $35.06. 39,187,816 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 37,052,750 shares. The stock had previously closed at $33.84.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Wedbush restated a “neutral” rating and issued a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. The Goldman Sachs Group lowered their target price on shares of 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. Argus cut Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.89.

Super Micro Computer Stock Performance

The company has a 50-day moving average of $33.47 and a 200-day moving average of $41.50. The company has a market cap of $20.75 billion, a PE ratio of 17.71 and a beta of 1.30. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMCI. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Super Micro Computer in the 3rd quarter worth approximately $87,000. Wealth Effects LLC grew its stake in Super Micro Computer by 90.7% in the 3rd quarter. Wealth Effects LLC now owns 515 shares of the company’s stock valued at $214,000 after purchasing an additional 245 shares during the period. Retirement Systems of Alabama increased its position in shares of Super Micro Computer by 2.3% during the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Super Micro Computer by 252.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock worth $156,000 after purchasing an additional 268 shares during the period. Finally, CWM LLC boosted its holdings in shares of Super Micro Computer by 11.7% in the 3rd quarter. CWM LLC now owns 2,773 shares of the company’s stock worth $1,155,000 after buying an additional 290 shares during the last quarter. 84.06% of the stock is owned by 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.