Super Micro Computer (NASDAQ:SMCI) Trading Up 9.3% - Here's Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shot up 9.3% on Friday . The stock traded as high as $47.33 and last traded at $46.21. 54,419,538 shares were traded during mid-day trading, an increase of 4% from the average session volume of 52,286,293 shares. The stock had previously closed at $42.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Loop Capital boosted their target price on shares of Super Micro Computer from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Northland Securities reiterated an "outperform" rating and set a $57.00 price target (up previously from $54.00) on shares of Super Micro Computer in a research report on Wednesday, February 12th. The Goldman Sachs Group dropped their price objective 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. Cfra upgraded 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. Finally, Wedbush lifted their price target on shares of Super Micro Computer from $24.00 to $40.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and a consensus target price of $60.20.

Super Micro Computer Price Performance

The company's 50-day moving average is $34.41 and its 200-day moving average is $39.72. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The firm has a market cap of $35.28 billion, a price-to-earnings ratio of 30.25 and a beta of 1.30.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently modified their holdings of SMCI. Salem Investment Counselors Inc. acquired a new position in shares of Super Micro Computer during the fourth quarter worth $30,000. Trust Co. of Vermont increased its position in Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 900 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Super Micro Computer by 2,890.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock worth $30,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after acquiring an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Super Micro Computer in the 4th quarter worth about $31,000. 84.06% of the stock is currently owned by 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.