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

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) 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 traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SMCI shares. Wedbush reiterated a "neutral" rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Barclays cut their target price on Super Micro Computer from $438.00 to $42.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 2nd. Argus downgraded Super Micro Computer from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Loop Capital cut their price objective on Super Micro Computer from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, September 23rd. Finally, Needham & Company LLC initiated coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They set a "buy" rating and a $60.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Super Micro Computer currently has a consensus rating of "Hold" and an average target price of $66.89.

Super Micro Computer Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a 50-day moving average of $32.35 and a 200-day moving average of $47.41. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 15.62 and a beta of 1.31.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in shares of Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company's stock valued at $381,629,000 after acquiring an additional 915,058 shares during the last quarter. Annex Advisory Services LLC acquired a new position in Super Micro Computer during the fourth quarter worth approximately $6,708,000. Diversify Advisory Services LLC purchased a new position in Super Micro Computer during the fourth quarter worth approximately $5,113,000. Bridgewater Associates LP grew its stake in shares of Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company's stock valued at $67,084,000 after buying an additional 145,327 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Super Micro Computer by 1,169.5% during the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company's stock worth $56,077,000 after buying an additional 124,062 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.