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

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were up 6% during mid-day trading on Wednesday . The company traded as high as $35.50 and last traded at $34.33. Approximately 41,339,738 shares changed hands during trading, a decline of 50% from the average daily volume of 82,951,336 shares. The stock had previously closed at $32.40.

Analyst Ratings Changes

SMCI has been the topic of a number of research analyst reports. Mizuho initiated coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price target on the stock. Barclays reduced their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, Needham & Company LLC assumed coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 17.23 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. The firm has a fifty day simple moving average of $34.78 and a two-hundred day simple moving average of $53.33.

Institutional Trading of Super Micro Computer

Institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. raised its holdings in shares of Super Micro Computer by 391.8% in the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after buying an additional 61,071 shares during the last quarter. Assetmark Inc. increased its position in shares of Super Micro Computer by 164.8% in the 3rd 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 period. Sanctuary Advisors LLC raised its stake in Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after acquiring an additional 21,997 shares during the last quarter. Bridgewater Associates LP lifted its position in Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after acquiring an additional 145,327 shares during the period. Finally, Tidal Investments LLC lifted its position in Super Micro Computer by 143.8% during the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock worth $20,968,000 after acquiring an additional 29,697 shares during the period. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.