Super Micro Computer (NASDAQ:SMCI) Stock Price Up 4.7% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares shot up 4.7% during mid-day trading on Friday . The stock traded as high as $33.47 and last traded at $32.72. 17,747,790 shares were traded during mid-day trading, a decline of 79% from the average session volume of 83,054,195 shares. The stock had previously closed at $31.24.

Analyst Upgrades and Downgrades

SMCI has been the topic of several research reports. Barclays decreased their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company cut their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an "equal weight" rating for the company in a research report on Wednesday, August 28th. StockNews.com downgraded Super Micro Computer from a "hold" rating to a "sell" rating in a report on Wednesday, October 9th. Argus lowered Super Micro Computer from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Finally, Mizuho initiated coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a "neutral" rating and a $45.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $66.89.

Super Micro Computer Stock Performance

The company's 50-day moving average price is $35.67 and its 200 day moving average price is $54.46. The stock has a market capitalization of $17.67 billion, a PE ratio of 15.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in Super Micro Computer by 234.0% during the 2nd quarter. Fifth Third Bancorp now owns 865 shares of the company's stock valued at $709,000 after acquiring an additional 606 shares during the period. Secure Asset Management LLC lifted its holdings in shares of Super Micro Computer by 226.1% during the second quarter. Secure Asset Management LLC now owns 724 shares of the company's stock valued at $593,000 after purchasing an additional 502 shares during the last quarter. TrueWealth Advisors LLC bought a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $244,000. Vivid Wealth Management LLC purchased a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $1,705,000. Finally, Raymond James Trust N.A. increased its position in Super Micro Computer by 7.5% during the 2nd quarter. Raymond James Trust N.A. now owns 3,947 shares of the company's stock valued at $3,234,000 after buying an additional 274 shares in the last quarter. 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.