Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Still a Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $42.00, but opened at $44.42. Super Micro Computer shares last traded at $43.98, with a volume of 39,715,081 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SMCI. Wells Fargo & Company reduced their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Mizuho began coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. Barclays dropped their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Bank of America downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $109.00 to $70.00 in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The business’s 50 day moving average is $37.10 and its two-hundred day moving average is $58.33. The firm has a market capitalization of $23.39 billion, a PE ratio of 20.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. grew its position in Super Micro Computer by 391.8% during the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after acquiring an additional 61,071 shares during the last quarter. Assetmark Inc. grew its position in Super Micro Computer by 164.8% during the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after acquiring an additional 93,569 shares during the last quarter. Bridgewater Associates LP grew its position in Super Micro Computer by 921.1% during the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after acquiring an additional 145,327 shares during the last quarter. Victory Capital Management Inc. grew its position in Super Micro Computer by 128.2% during the third quarter. Victory Capital Management Inc. now owns 42,642 shares of the company’s stock valued at $17,756,000 after acquiring an additional 23,959 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Super Micro Computer by 440.6% during the third quarter. Thrivent Financial for Lutherans now owns 19,760 shares of the company’s stock valued at $8,228,000 after acquiring an additional 16,105 shares during the last quarter. 84.06% of the stock is currently owned by 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.