Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped up prior to trading on Monday . The stock had previously closed at $33.15, but opened at $36.03. Super Micro Computer shares last traded at $36.69, with a volume of 21,909,701 shares trading hands.

Analysts Set New Price Targets

SMCI has been the topic of several recent research reports. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company lowered their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Price Performance

The firm has a 50-day simple moving average of $37.87 and a 200-day simple moving average of $60.03. The firm has a market capitalization of $19.26 billion, a PE ratio of 17.28 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently made changes to their positions in SMCI. Synovus Financial Corp bought a new stake in Super Micro Computer during the third quarter valued at about $443,000. Tidal Investments LLC lifted its position in shares of Super Micro Computer by 143.8% during the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after buying an additional 29,697 shares in the last quarter. World Investment Advisors LLC lifted its position in shares of Super Micro Computer by 13,210.5% during the 3rd quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock valued at $23,722,000 after buying an additional 56,541 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Super Micro Computer by 254.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after acquiring an additional 21,997 shares during the period. Finally, Strait & Sound Wealth Management LLC purchased a new stake in Super Micro Computer in the 3rd quarter worth approximately $1,143,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Company Profile

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.