Super Micro Computer (NASDAQ:SMCI) Stock Price Up 2.7% – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) was up 2.7% on Wednesday . The company traded as high as $34.98 and last traded at $33.32. Approximately 24,207,774 shares traded hands during trading, a decline of 21% from the average daily volume of 30,785,480 shares. The stock had previously closed at $32.45.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMCI. Barclays lowered their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Loop Capital upped their price objective on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush restated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Three 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.89.

Super Micro Computer Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 16.70 and a beta of 1.31. The business has a fifty day moving average price of $33.53 and a two-hundred day moving average price of $45.50.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. increased its stake in shares of Super Micro Computer by 391.8% in the third 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 period. Assetmark Inc. boosted its holdings in Super Micro Computer by 164.8% in the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after purchasing an additional 93,569 shares during the last quarter. Sanctuary Advisors LLC grew its position 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 purchasing an additional 21,997 shares during the period. Bridgewater Associates LP raised its stake in shares of Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after buying an additional 145,327 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Super Micro Computer in the 4th quarter valued at about $277,000. 84.06% of the stock is owned by hedge funds and other 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.