Super Micro Computer (NASDAQ:SMCI) Shares Up 6% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 6% on Wednesday . The stock traded as high as $60.40 and last traded at $59.17. 104,691,815 shares traded hands during trading, an increase of 75% from the average session volume of 59,852,930 shares. The stock had previously closed at $55.80.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SMCI shares. The Goldman Sachs Group cut their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Wedbush increased their price objective on Super Micro Computer from $24.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Loop Capital increased their price objective on Super Micro Computer from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their price objective on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.20.

Super Micro Computer Trading Up 15.9 %

The stock has a market cap of $37.86 billion, a PE ratio of 32.40 and a beta of 1.30. The business has a 50-day moving average of $33.97 and a 200 day moving average of $39.74. 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 Trading of Super Micro Computer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust purchased a new stake in Super Micro Computer during the 3rd quarter worth about $87,000. Miller Wealth Advisors LLC acquired a new stake in Super Micro Computer in the 3rd quarter worth about $152,000. Wealth Effects LLC boosted its stake in Super Micro Computer by 90.7% in the 3rd quarter. Wealth Effects LLC now owns 515 shares of the company’s stock worth $214,000 after buying an additional 245 shares during the last quarter. Archer Investment Corp boosted its stake in Super Micro Computer by 364.2% in the 3rd quarter. Archer Investment Corp now owns 571 shares of the company’s stock worth $238,000 after buying an additional 448 shares during the last quarter. Finally, TrueWealth Advisors LLC boosted its stake in Super Micro Computer by 99.0% in the 3rd quarter. TrueWealth Advisors LLC now owns 593 shares of the company’s stock worth $247,000 after buying an additional 295 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.