Super Micro Computer (NASDAQ:SMCI) Shares Up 3.6% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 3.6% during trading on Thursday . The company traded as high as $47.24 and last traded at $47.00. Approximately 10,096,377 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 80,116,922 shares. The stock had previously closed at $45.36.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays dropped their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $50.00 in a research note on Friday, September 6th. Loop Capital cut their target price 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. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.53.

Super Micro Computer Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 2.65 and a beta of 1.23. The business’s 50 day moving average price is $47.12 and its two-hundred day moving average price is $68.90.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 142.9% compared to the same quarter last year. Equities analysts forecast that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in SMCI. Financial Advocates Investment Management grew its position in Super Micro Computer by 75.3% in the third quarter. Financial Advocates Investment Management now owns 1,199 shares of the company’s stock worth $499,000 after buying an additional 515 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Super Micro Computer by 95.2% during the third quarter. Pinnacle Associates Ltd. now owns 1,210 shares of the company’s stock valued at $504,000 after purchasing an additional 590 shares during the last quarter. New York State Teachers Retirement System increased its stake in Super Micro Computer by 2.2% in the 3rd quarter. New York State Teachers Retirement System now owns 45,359 shares of the company’s stock worth $18,887,000 after purchasing an additional 988 shares in the last quarter. Mutual Advisors LLC acquired a new stake in Super Micro Computer during the 3rd quarter worth about $2,097,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Super Micro Computer during the third quarter valued at about $309,000. 84.06% of the stock is currently 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.