Super Micro Computer (NASDAQ:SMCI) Shares Gap Up - Should You Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $30.99, but opened at $31.90. Super Micro Computer shares last traded at $31.42, with a volume of 5,952,235 shares changing hands.

Wall Street Analyst Weigh In

SMCI has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $50.00 to $23.00 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 report on Wednesday, October 9th. Wedbush reissued a "neutral" rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. The Goldman Sachs Group reduced their price target on shares of 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. Finally, Argus lowered shares of Super Micro Computer from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Three equities 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 company's stock. According to data from MarketBeat, Super Micro Computer currently has an average rating of "Hold" and an average price target of $66.89.

Super Micro Computer Stock Down 1.0 %

The business's 50 day moving average is $32.59 and its 200-day moving average is $47.18. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 15.47 and a beta of 1.31. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV lifted its holdings in Super Micro Computer by 100.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 60 shares of the company's stock valued at $49,000 after purchasing an additional 30 shares in the last quarter. Clear Point Advisors Inc. raised its holdings in shares of Super Micro Computer by 471.4% during the 2nd quarter. Clear Point Advisors Inc. now owns 80 shares of the company's stock worth $66,000 after acquiring an additional 66 shares during the period. Quarry LP raised its holdings in shares of Super Micro Computer by 5,850.0% during the 2nd quarter. Quarry LP now owns 119 shares of the company's stock worth $98,000 after acquiring an additional 117 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Super Micro Computer during the 3rd quarter worth $87,000. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Super Micro Computer by 50.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 301 shares of the company's stock worth $247,000 after acquiring an additional 101 shares during the period. 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.