JPMorgan Chase & Co. Upgrades Super Micro Computer (NASDAQ:SMCI) to Neutral

Super Micro Computer (NASDAQ:SMCI) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Friday, MarketBeat reports. The brokerage presently has a $45.00 price target on the stock, up from their prior price target of $35.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.76% from the company’s previous close.

Several other analysts have also recently issued reports on SMCI. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Barclays began coverage on shares of Super Micro Computer in a research report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 price target on the stock. Rosenblatt Securities started coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They set a “buy” rating and a $60.00 price target on the stock. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a research note on Friday, February 28th. Finally, Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $53.29.

Super Micro Computer Stock Up 7.8 %

Shares of SMCI opened at $42.15 on Friday. The stock has a market capitalization of $25.02 billion, a PE ratio of 21.16 and a beta of 1.21. Super Micro Computer has a 1 year low of $17.25 and a 1 year high of $110.61. 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’s 50-day simple moving average is $38.66 and its 200-day simple moving average is $37.88.

Insider Buying and Selling at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the transaction, the senior vice president now owns 19,449 shares in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 over the last three months. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently modified their holdings of SMCI. Salem Investment Counselors Inc. purchased a new position in shares of Super Micro Computer during the fourth quarter worth approximately $30,000. Trust Co. of Vermont lifted its holdings in shares of Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after purchasing an additional 893 shares during the period. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Super Micro Computer during the fourth quarter worth $31,000. 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.