Super Micro Computer (NASDAQ:SMCI) Trading 8% Higher – Still a Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price shot up 8% during mid-day trading on Wednesday . The company traded as high as $33.13 and last traded at $31.50. 46,611,869 shares were traded during mid-day trading, an increase of 37% from the average session volume of 34,049,043 shares. The stock had previously closed at $29.16.

Analyst Upgrades and Downgrades

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

Super Micro Computer Stock Up 7.2 %

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $41.50. The stock has a market cap of $21.24 billion, a P/E ratio of 18.21 and a beta of 1.30.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. Sequoia Financial Advisors LLC increased its stake in shares of Super Micro Computer by 991.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 13,439 shares of the company’s stock valued at $410,000 after purchasing an additional 12,208 shares during the last quarter. PFG Advisors grew its stake in shares of Super Micro Computer by 1,144.9% during the fourth quarter. PFG Advisors now owns 9,673 shares of the company’s stock worth $295,000 after buying an additional 8,896 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Super Micro Computer by 1,577.5% in the 4th quarter. Moors & Cabot Inc. now owns 39,270 shares of the company’s stock valued at $1,197,000 after acquiring an additional 36,929 shares during the last quarter. Prosperity Wealth Management Inc. bought a new stake in Super Micro Computer during the 4th quarter worth $440,000. Finally, Inspire Advisors LLC increased its holdings in Super Micro Computer by 569.7% in the 4th quarter. Inspire Advisors LLC now owns 8,833 shares of the company’s stock worth $269,000 after purchasing an additional 7,514 shares in the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

About Super Micro Computer

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.