Super Micro Computer (NASDAQ:SMCI) Trading Up 2.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) was up 2.2% on Tuesday . The company traded as high as $48.79 and last traded at $48.75. Approximately 11,903,962 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 79,373,781 shares. The stock had previously closed at $47.72.

Analyst Ratings Changes

A number of analysts have recently issued reports on SMCI shares. JPMorgan Chase & Co. downgraded Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $50.00 in a research report on Friday, September 6th. Mizuho initiated coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 target price for the company. Needham & Company LLC initiated coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target on the stock. Loop Capital dropped their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Nomura cut Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.53.

Super Micro Computer Trading Up 2.8 %

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 firm has a 50-day moving average of $46.82 and a 200-day moving average of $68.28. The firm has a market capitalization of $27.43 billion, a P/E ratio of 24.80 and a beta of 1.23.

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

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of the company. Farmers & Merchants Investments Inc. increased its holdings in Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC bought a new position in shares of Super Micro Computer during the second quarter valued at approximately $25,000. VitalStone Financial LLC raised its holdings in shares of Super Micro Computer by 250.0% during the first quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Super Micro Computer by 186.7% in the first quarter. Larson Financial Group LLC now owns 43 shares of the company’s stock valued at $43,000 after acquiring an additional 28 shares in 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.