Super Micro Computer (NASDAQ:SMCI) Shares Gap Up After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped up before the market opened on Wednesday after Loop Capital raised their price target on the stock from $40.00 to $50.00. The stock had previously closed at $38.61, but opened at $42.30. Loop Capital currently has a buy rating on the stock. Super Micro Computer shares last traded at $40.86, with a volume of 63,742,524 shares changing hands.

A number of other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group cut their price objective 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. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Wedbush increased their price target on Super Micro Computer from $24.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.20.

Institutional Trading of Super Micro Computer

Institutional investors and hedge funds have recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Super Micro Computer in the third quarter worth approximately $87,000. Wealth Effects LLC boosted 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 worth $214,000 after purchasing an additional 245 shares during the period. Retirement Systems of Alabama grew its position in Super Micro Computer by 2.3% during the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after purchasing an additional 258 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Super Micro Computer by 252.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock valued at $156,000 after purchasing an additional 268 shares during the period. Finally, CWM LLC lifted its holdings in shares of Super Micro Computer by 11.7% in the third quarter. CWM LLC now owns 2,773 shares of the company’s stock valued at $1,155,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Trading Up 2.8 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market cap of $23.24 billion, a price-to-earnings ratio of 19.92 and a beta of 1.30. The company has a 50-day moving average price of $33.48 and a 200 day moving average price of $40.30.

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.