Super Micro Computer (NASDAQ:SMCI) Trading Up 1.4% - Here's What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) were up 1.4% during mid-day trading on Friday . The stock traded as high as $34.08 and last traded at $33.08. Approximately 14,119,937 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 31,184,721 shares. The stock had previously closed at $32.61.

Analyst Ratings Changes

A number of analysts recently commented on SMCI shares. The Goldman Sachs Group dropped their price target on Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. StockNews.com cut shares of Super Micro Computer from a "hold" rating to a "sell" rating in a research note on Wednesday, October 9th. Northland Capmk upgraded shares of Super Micro Computer to a "strong-buy" rating in a research note on Friday, December 20th. Finally, Barclays dropped their price objective on 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. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.89.

Super Micro Computer Price Performance

The business's 50-day moving average price is $32.02 and its 200 day moving average price is $49.03. The company has a market capitalization of $18.23 billion, a P/E ratio of 16.37 and a beta of 1.31. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. increased its stake in Super Micro Computer by 391.8% in the 3rd 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. grew its holdings in shares of Super Micro Computer by 164.8% during the third quarter. Assetmark Inc. now owns 150,333 shares of the company's stock worth $62,599,000 after purchasing an additional 93,569 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $12,756,000 after purchasing an additional 21,997 shares in the last quarter. Bridgewater Associates LP lifted its position in Super Micro Computer by 921.1% during the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company's stock valued at $67,084,000 after purchasing an additional 145,327 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in Super Micro Computer by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company's stock worth $20,968,000 after buying an additional 29,697 shares in the last quarter. 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.