Super Micro Computer (NASDAQ:SMCI) Trading 4.2% Higher on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 4.2% on Thursday after Loop Capital raised their price target on the stock from $40.00 to $50.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $41.69 and last traded at $41.36. 40,624,294 shares changed hands during trading, a decline of 19% from the average session volume of 49,863,598 shares. The stock had previously closed at $39.68.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their price target on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday. Argus cut Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday. Finally, Wedbush lifted their price objective on Super Micro Computer from $24.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and an average target price of $60.20.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. bought a new stake in Super Micro Computer during the fourth quarter valued at about $30,000. Trust Co. of Vermont grew its holdings in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Parkside Financial Bank & Trust grew its holdings 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 valued at $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC grew its holdings in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in Super Micro Computer during the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Up 13.3 %

The company has a fifty day simple moving average of $33.59 and a 200-day simple moving average of $40.37. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market cap of $28.05 billion, a P/E ratio of 24.05 and a beta of 1.30.

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.