Super Micro Computer (NASDAQ:SMCI) Trading 0.8% Higher – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 0.8% on Monday . The company traded as high as $32.59 and last traded at $31.85. 9,903,711 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 83,047,398 shares. The stock had previously closed at $31.59.

Analyst Upgrades and Downgrades

SMCI has been the topic of several research reports. Wells Fargo & Company decreased their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Mizuho began coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, Barclays dropped their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Price Performance

The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 16.16 and a beta of 1.29. 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 stock has a fifty day moving average of $35.34 and a 200-day moving average of $53.98.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SMCI. Farmers & Merchants Investments Inc. lifted its position in Super Micro Computer by 400.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after acquiring an additional 24 shares during the last quarter. Moser Wealth Advisors LLC purchased a new stake in shares of Super Micro Computer in the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in Super Micro Computer during the 2nd quarter worth approximately $42,000. Finally, Resources Management Corp CT ADV increased its position in Super Micro Computer by 100.0% during the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after buying an additional 30 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.