Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – What’s Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up before the market opened on Wednesday . The stock had previously closed at $29.16, but opened at $31.03. Super Micro Computer shares last traded at $30.35, with a volume of 14,778,330 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SMCI. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Loop Capital lifted their price objective on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wedbush reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.89.

Super Micro Computer Stock Performance

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’s 50 day moving average is $33.47 and its 200-day moving average is $41.50. The company has a market cap of $20.29 billion, a PE ratio of 16.99 and a beta of 1.30.

Institutional Investors Weigh In On Super Micro Computer

Hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new stake in shares of Super Micro Computer in the 4th quarter valued at approximately $30,000. Trust Co. of Vermont grew its position in Super Micro Computer by 900.0% in the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 900 shares during the period. Parkside Financial Bank & Trust increased its stake in 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 acquiring an additional 954 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in Super Micro Computer in the fourth quarter valued at $31,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Super Micro Computer in the 4th quarter valued at $34,000. 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.