Super Micro Computer (NASDAQ:SMCI) Stock Price Expected to Rise, Wedbush Analyst Says

Super Micro Computer (NASDAQ:SMCI) had its price target raised by Wedbush from $24.00 to $40.00 in a report published on Wednesday morning,Benzinga reports. Wedbush currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on SMCI. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Loop Capital upped their target price on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Northland Securities restated an “outperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday. Finally, Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer has an average rating of “Hold” and a consensus target price of $60.20.

Super Micro Computer Stock Performance

SMCI stock opened at $39.68 on Wednesday. The company has a 50-day simple moving average of $33.48 and a 200 day simple moving average of $40.30. The company has a market capitalization of $23.24 billion, a P/E ratio of 19.92 and a beta of 1.30. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. Super Micro Computer has a fifty-two week low of $17.25 and a fifty-two week high of $122.90.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds have recently made changes to their positions in the company. Prudential PLC grew its position in Super Micro Computer by 3,255.9% during the 4th quarter. Prudential PLC now owns 24,968 shares of the company’s stock worth $761,000 after purchasing an additional 24,224 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Super Micro Computer during the fourth quarter valued at $656,000. ExodusPoint Capital Management LP acquired a new position in Super Micro Computer during the fourth quarter valued at $7,069,000. Westpac Banking Corp purchased a new stake in Super Micro Computer in the 4th quarter worth about $169,000. Finally, Cynosure Group LLC acquired a new stake in Super Micro Computer during the 4th quarter worth about $556,000. 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.