Wedbush Raises Super Micro Computer (NASDAQ:SMCI) Price Target to $40.00

Super Micro Computer (NASDAQ:SMCI) had its price objective lifted by research analysts at Wedbush from $24.00 to $40.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price target indicates a potential downside of 5.39% from the company’s previous close.

A number of other analysts have also weighed in on the company. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Loop Capital lifted their price objective on Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday. The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, Northland Securities restated an “outperform” rating and issued a $57.00 price objective (up from $54.00) on shares of Super Micro Computer in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.20.

Super Micro Computer Stock Performance

SMCI stock opened at $42.28 on Wednesday. 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 business’s fifty day simple moving average is $33.51 and its two-hundred day simple moving average is $40.31. Super Micro Computer has a twelve month low of $17.25 and a twelve month high of $122.90. The firm has a market cap of $24.76 billion, a price-to-earnings ratio of 21.23 and a beta of 1.30.

Institutional Investors Weigh In On Super Micro Computer

A number of large investors have recently modified their holdings of SMCI. Vanguard Group Inc. grew its stake in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Super Micro Computer by 914.7% during the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after acquiring an additional 11,580,677 shares during the last quarter. FMR LLC purchased a new stake in shares of Super Micro Computer during the fourth quarter worth about $292,869,000. Invesco Ltd. grew its stake in shares of Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after acquiring an additional 6,810,082 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Super Micro Computer by 416,945.0% during the fourth quarter. Marshall Wace LLP now owns 3,753,405 shares of the company’s stock worth $114,404,000 after acquiring an additional 3,752,505 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.