Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report) traded down 0.6% during trading on Thursday . The company traded as low as $32.79 and last traded at $33.66. 8,595,755 shares traded hands during trading, a decline of 72% from the average session volume of 30,846,871 shares. The stock had previously closed at $33.86.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SMCI. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, 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. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.89.
Read Our Latest Stock Report on SMCI
Super Micro Computer Stock Performance
Hedge Funds Weigh In On Super Micro Computer
Hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its holdings in shares of Super Micro Computer by 52.2% in the second quarter. Thrivent Financial for Lutherans now owns 3,655 shares of the company’s stock valued at $2,995,000 after buying an additional 1,254 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Super Micro Computer in the 2nd quarter valued at $36,925,000. Fred Alger Management LLC increased its stake in Super Micro Computer by 103.4% in the 2nd quarter. Fred Alger Management LLC now owns 8,164 shares of the company’s stock worth $6,689,000 after purchasing an additional 4,150 shares in the last quarter. AXA S.A. lifted its stake in Super Micro Computer by 199.7% during the second quarter. AXA S.A. now owns 6,552 shares of the company’s stock valued at $5,368,000 after buying an additional 4,366 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Super Micro Computer by 1.5% in the second quarter. AQR Capital Management LLC now owns 71,014 shares of the company’s stock worth $58,185,000 after buying an additional 1,040 shares during the period. Institutional investors and hedge funds 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.
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