Super Micro Computer (NASDAQ:SMCI) Trading 7.2% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 7.2% during mid-day trading on Monday . The company traded as high as $39.45 and last traded at $38.89. 42,111,167 shares were traded during trading, an increase of 9% from the average session volume of 38,559,301 shares. The stock had previously closed at $36.28.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group lowered their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Wedbush increased their target price on Super Micro Computer from $24.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Northland Securities reaffirmed an “outperform” rating and set a $57.00 price target (up from $54.00) on shares of Super Micro Computer in a research note on Wednesday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.20.

Super Micro Computer Stock Up 2.8 %

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 50 day simple moving average of $33.53 and a 200 day simple moving average of $40.52. The firm has a market capitalization of $23.24 billion, a PE ratio of 19.92 and a beta of 1.30.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in Super Micro Computer by 11.7% during the third quarter. CWM LLC now owns 2,773 shares of the company’s stock valued at $1,155,000 after acquiring an additional 290 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Super Micro Computer by 252.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock worth $156,000 after buying an additional 268 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Super Micro Computer by 276.9% in the third quarter. Exchange Traded Concepts LLC now owns 1,779 shares of the company’s stock worth $741,000 after buying an additional 1,307 shares in the last quarter. Creative Planning raised its position in Super Micro Computer by 9.1% during the third quarter. Creative Planning now owns 9,038 shares of the company’s stock valued at $3,763,000 after purchasing an additional 755 shares during the period. Finally, Ulland Investment Advisors LLC raised its position in Super Micro Computer by 19.9% during the third quarter. Ulland Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $2,082,000 after purchasing an additional 830 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.