Super Micro Computer (NASDAQ:SMCI) Stock Price Up 6% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares rose 6% during mid-day trading on Wednesday . The company traded as high as $60.40 and last traded at $59.17. Approximately 104,691,815 shares were traded during trading, an increase of 75% from the average daily volume of 59,852,930 shares. The stock had previously closed at $55.80.

Wall Street Analyst Weigh In

SMCI has been the subject of a number of research analyst reports. Northland Securities reaffirmed an “outperform” rating and set a $57.00 price objective (up from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Loop Capital increased their target price on Super Micro Computer from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lowered their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.20.

Super Micro Computer Stock Performance

The firm has a market capitalization of $32.83 billion, a P/E ratio of 28.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a 50-day moving average price of $34.83 and a two-hundred day moving average price of $39.86.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently made changes to their positions in SMCI. Vanguard Group Inc. increased its stake in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after buying an additional 55,845,073 shares during the period. Geode Capital Management LLC grew its stake in Super Micro Computer by 914.7% in the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the last quarter. FMR LLC purchased a new position in Super Micro Computer in the fourth quarter valued at about $292,869,000. Invesco Ltd. grew its stake in Super Micro Computer by 929.5% in the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after purchasing an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after purchasing an additional 4,605,260 shares during the last quarter. 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.