Super Micro Computer (NASDAQ:SMCI) Trading Up 1.6% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) rose 1.6% on Wednesday . The company traded as high as $31.71 and last traded at $31.03. Approximately 11,130,289 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 29,989,000 shares. The stock had previously closed at $30.53.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Wedbush reiterated a “neutral” rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Loop Capital decreased their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Trading Down 1.0 %

The stock’s fifty day moving average price is $32.46 and its 200 day moving average price is $47.30. The stock has a market cap of $17.24 billion, a P/E ratio of 15.47 and a beta of 1.31. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in shares of Super Micro Computer by 59.4% in the 2nd quarter. Parallel Advisors LLC now owns 373 shares of the company’s stock worth $306,000 after buying an additional 139 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Super Micro Computer by 101.5% during the second quarter. Envestnet Asset Management Inc. now owns 20,782 shares of the company’s stock valued at $17,028,000 after acquiring an additional 10,469 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of Super Micro Computer by 417.4% during the second quarter. Edgestream Partners L.P. now owns 2,173 shares of the company’s stock valued at $1,780,000 after acquiring an additional 1,753 shares in the last quarter. E Fund Management Co. Ltd. raised its position in shares of Super Micro Computer by 43.3% in the 2nd quarter. E Fund Management Co. Ltd. now owns 582 shares of the company’s stock worth $477,000 after purchasing an additional 176 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Super Micro Computer by 68.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,394 shares of the company’s stock worth $4,478,000 after purchasing an additional 2,188 shares in the last quarter. Hedge funds and other institutional investors 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.