Super Micro Computer (NASDAQ:SMCI) Shares Up 3.5%

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was up 3.5% on Friday . The company traded as high as $423.50 and last traded at $416.51. Approximately 5,773,249 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 8,332,341 shares. The stock had previously closed at $402.40.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SMCI shares. Mizuho started coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $450.00 target price on the stock. Barclays downgraded Super Micro Computer from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $693.00 to $438.00 in a report on Wednesday, September 4th. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $1,090.00 to $700.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered Super Micro Computer from an “overweight” rating to a “neutral” rating and cut their target price for the company from $950.00 to $500.00 in a research note on Friday, September 6th. Finally, Cfra reiterated a “hold” rating and issued a $454.00 target price (down from $729.00) on shares of Super Micro Computer in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Super Micro Computer presently has an average rating of “Hold” and an average price target of $725.63.

Super Micro Computer Stock Performance

The firm has a fifty day moving average of $538.94 and a 200 day moving average of $760.32. 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 stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 23.53 and a beta of 1.24.

Super Micro Computer’s stock is set to split before the market opens on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly issued shares will be payable to shareholders after the closing bell on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last posted its earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing the consensus estimate of $7.63 by ($1.38). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm earned $3.43 earnings per share. Super Micro Computer’s revenue for the quarter was up 142.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Super Micro Computer, Inc. will post 28.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Farmers & Merchants Investments Inc. increased its stake in shares of Super Micro Computer by 400.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after purchasing an additional 24 shares in the last quarter. Moser Wealth Advisors LLC purchased a new position in Super Micro Computer during the second quarter valued at $25,000. FinTrust Capital Advisors LLC purchased a new position in Super Micro Computer during the fourth quarter valued at $33,000. Hazlett Burt & Watson Inc. grew its position in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the period. Finally, Bank of New Hampshire purchased a new stake in shares of Super Micro Computer during the first quarter worth about $35,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.