Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up prior to trading on Wednesday . The stock had previously closed at $29.16, but opened at $31.03. Super Micro Computer shares last traded at $30.35, with a volume of 14,778,330 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on SMCI shares. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. 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 note on Monday, November 4th. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group dropped their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and an average price target of $62.89.

Super Micro Computer Price Performance

The stock has a 50-day moving average of $33.57 and a two-hundred day moving average of $41.89. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 16.22 and a beta of 1.30. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SMCI. Emerald Mutual Fund Advisers Trust purchased a new position in Super Micro Computer during the 3rd quarter valued at about $87,000. Wealth Effects LLC increased its stake in Super Micro Computer by 90.7% in the 3rd quarter. Wealth Effects LLC now owns 515 shares of the company’s stock valued at $214,000 after buying an additional 245 shares during the period. Retirement Systems of Alabama lifted its position in Super Micro Computer by 2.3% in the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after buying an additional 258 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Super Micro Computer by 252.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock valued at $156,000 after buying an additional 268 shares during the period. Finally, CWM LLC grew its holdings in shares of Super Micro Computer by 11.7% during the 3rd quarter. CWM LLC now owns 2,773 shares of the company’s stock valued at $1,155,000 after acquiring an additional 290 shares in the last quarter. 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.