JPMorgan Chase & Co. Issues Positive Forecast for Super Micro Computer (NASDAQ:SMCI) Stock Price

Super Micro Computer (NASDAQ:SMCI) had its price target upped by equities researchers at JPMorgan Chase & Co. from $23.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 14.35% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. The Goldman Sachs Group dropped their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northland Securities reaffirmed an “outperform” rating and issued a $57.00 target price (up from $54.00) on shares of Super Micro Computer in a research report on Wednesday. Finally, Loop Capital boosted their price target on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.00.

Super Micro Computer Stock Up 5.8 %

NASDAQ:SMCI traded up $2.25 during trading hours on Wednesday, hitting $40.86. The company’s stock had a trading volume of 63,742,524 shares, compared to its average volume of 46,210,051. Super Micro Computer has a 52-week low of $17.25 and a 52-week high of $122.90. 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 $23.93 billion, a P/E ratio of 20.54 and a beta of 1.30. The stock has a fifty day moving average of $33.53 and a 200-day moving average of $40.52.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its position in shares of Super Micro Computer by 391.8% in the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after acquiring an additional 61,071 shares during the last quarter. Assetmark Inc. raised its position in shares of Super Micro Computer by 164.8% in the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock worth $62,599,000 after buying an additional 93,569 shares during the period. Clear Creek Financial Management LLC acquired a new position in Super Micro Computer in the fourth quarter valued at $635,000. Nepsis Inc. purchased a new stake in Super Micro Computer during the fourth quarter valued at about $13,625,000. Finally, Sanctuary Advisors LLC raised its holdings in shares of Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after purchasing an additional 21,997 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.