Super Micro Computer (NASDAQ:SMCI) Trading Up 2.8% Following Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) rose 2.8% during mid-day trading on Friday after Loop Capital raised their price target on the stock from $35.00 to $40.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $34.70 and last traded at $34.36. Approximately 13,967,897 shares were traded during trading, a decline of 54% from the average daily volume of 30,618,381 shares. The stock had previously closed at $33.41.

A number of other research analysts also recently weighed in on the stock. Barclays lowered 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 research report on Wednesday, October 2nd. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of 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. Three research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.89.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently added to or reduced their stakes in SMCI. Kathmere Capital Management LLC increased its position in Super Micro Computer by 5.0% during the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after purchasing an additional 18 shares during the last quarter. Anchor Investment Management LLC boosted its position in shares of Super Micro Computer by 13.7% during the 2nd quarter. Anchor Investment Management LLC now owns 324 shares of the company’s stock worth $265,000 after purchasing an additional 39 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Super Micro Computer by 4.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,010 shares of the company’s stock worth $1,647,000 after buying an additional 88 shares in the last quarter. Dorsey Wright & Associates raised its stake in Super Micro Computer by 1.3% in the 2nd quarter. Dorsey Wright & Associates now owns 7,224 shares of the company’s stock valued at $5,919,000 after purchasing an additional 90 shares during the last quarter. Finally, Daymark Wealth Partners LLC increased its position in Super Micro Computer by 50.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 301 shares of the company’s stock worth $247,000 after purchasing an additional 101 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Stock Performance

The stock has a market cap of $18.61 billion, a PE ratio of 16.70 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a fifty day simple moving average of $33.83 and a two-hundred day simple moving average of $45.10.

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.