Super Micro Computer (NASDAQ:SMCI) Trading 6% Higher - Here's Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) traded up 6% during trading on Wednesday . The company traded as high as $60.40 and last traded at $59.17. 104,691,815 shares changed hands during mid-day 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

A number of analysts have recently issued reports on the company. Northland Securities restated an "outperform" rating and set a $57.00 price objective (up from $54.00) on shares of Super Micro Computer in a research report on Wednesday, February 12th. The Goldman Sachs Group lowered 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 report on Wednesday, November 6th. Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Tuesday, February 11th. Argus downgraded shares of Super Micro Computer from a "buy" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Loop Capital increased their price target on shares of Super Micro Computer from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $60.20.

Super Micro Computer Stock Down 5.4 %

The company has a market cap of $32.83 billion, a P/E ratio of 28.15 and a beta of 1.30. The business's 50 day moving average price is $35.23 and its 200-day moving average price is $39.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently bought and sold shares of the business. Emerald Mutual Fund Advisers Trust bought a new position in shares of Super Micro Computer in the third quarter valued at about $87,000. Retirement Systems of Alabama raised its stake in shares of Super Micro Computer by 2.3% in the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company's stock worth $4,733,000 after acquiring an additional 258 shares during the last quarter. TrueWealth Advisors LLC grew its stake in shares of Super Micro Computer by 99.0% during the third quarter. TrueWealth Advisors LLC now owns 593 shares of the company's stock valued at $247,000 after purchasing an additional 295 shares during the last quarter. Wahed Invest LLC raised its position in Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after purchasing an additional 352 shares during the last quarter. Finally, Miller Wealth Advisors LLC bought a new position in Super Micro Computer in the 3rd quarter worth approximately $152,000. 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.