Super Micro Computer (NASDAQ:SMCI) Shares Up 2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was up 2% on Friday . The company traded as high as $62.43 and last traded at $60.49. Approximately 44,271,690 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 69,910,992 shares. The stock had previously closed at $59.27.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SMCI. Cfra upgraded shares of 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, February 11th. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a research note on Tuesday. Argus cut Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research report on Tuesday. Finally, Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Three investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.20.

Super Micro Computer Stock Performance

The firm has a 50-day moving average of $35.23 and a 200-day moving average of $39.82. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 28.15 and a beta of 1.30.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning increased its holdings in Super Micro Computer by 9.1% in the 3rd quarter. Creative Planning now owns 9,038 shares of the company’s stock worth $3,763,000 after buying an additional 755 shares during the period. Signaturefd LLC boosted its holdings in shares of Super Micro Computer by 47.4% in the 3rd quarter. Signaturefd LLC now owns 1,191 shares of the company’s stock valued at $496,000 after acquiring an additional 383 shares during the last quarter. Cromwell Holdings LLC increased its stake in shares of Super Micro Computer by 1,511.7% in the third quarter. Cromwell Holdings LLC now owns 1,660 shares of the company’s stock worth $691,000 after acquiring an additional 1,557 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Super Micro Computer by 160.7% during the third quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the company’s stock worth $3,040,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Parcion Private Wealth LLC acquired a new position in Super Micro Computer during the third quarter valued at $311,000. Institutional investors and hedge funds 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.