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

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up before the market opened on Wednesday . The stock had previously closed at $32.45, but opened at $33.98. Super Micro Computer shares last traded at $34.86, with a volume of 8,618,375 shares changing hands.

Wall Street Analyst Weigh In

SMCI has been the topic of a number of research reports. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Barclays decreased their price objective on shares of 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. Wedbush reissued a “neutral” rating and issued a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Finally, Loop Capital upped their price target on shares of Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and an average price target of $62.89.

Super Micro Computer Stock Performance

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 company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 16.77 and a beta of 1.31. The stock has a 50-day simple moving average of $33.53 and a 200-day simple moving average of $45.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMCI. Rakuten Securities Inc. lifted its position in shares of Super Micro Computer by 391.8% during the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after purchasing an additional 61,071 shares during the last quarter. Assetmark Inc. raised its stake in Super Micro Computer by 164.8% during the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after buying an additional 93,569 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Super Micro Computer by 254.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after buying an additional 21,997 shares during the last quarter. Bridgewater Associates LP grew its position in shares of Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after acquiring an additional 145,327 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Super Micro Computer in the 4th quarter valued at approximately $277,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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.