Super Micro Computer (NASDAQ:SMCI) Trading 9.1% Higher – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) rose 9.1% during mid-day trading on Tuesday . The company traded as high as $35.45 and last traded at $35.35. Approximately 17,224,776 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 82,823,453 shares. The stock had previously closed at $32.40.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SMCI shares. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. Cfra reiterated a “hold” rating and set a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Barclays reduced their price target 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. Mizuho began coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. Finally, Wells Fargo & Company lowered their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Up 6.0 %

The stock has a market cap of $19.20 billion, a price-to-earnings ratio of 17.23 and a beta of 1.29. The business has a 50-day simple moving average of $35.04 and a two-hundred day simple moving average of $53.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SMCI. State Street Corp increased its stake in shares of Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after purchasing an additional 88,692 shares during the last quarter. Geode Capital Management LLC increased its position in Super Micro Computer by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock worth $529,753,000 after buying an additional 16,007 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Super Micro Computer by 3.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after buying an additional 31,064 shares during the period. International Assets Investment Management LLC lifted its position in shares of Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after buying an additional 915,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Super Micro Computer by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after acquiring an additional 2,011 shares during the period. 84.06% of the stock is currently owned by institutional investors.

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.