Super Micro Computer (NASDAQ:SMCI) Stock Price Up 0.8% – Should You Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price shot up 0.8% on Monday . The stock traded as high as $32.59 and last traded at $31.85. 9,903,711 shares were traded during mid-day trading, a decline of 88% from the average session volume of 83,047,398 shares. The stock had previously closed at $31.59.

Analysts Set New Price Targets

SMCI has been the subject of several research reports. 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. Needham & Company LLC started coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price for the company. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. cut 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. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Up 6.0 %

The firm has a market cap of $19.20 billion, a PE ratio of 17.23 and a beta of 1.29. The business’s 50 day moving average price is $34.78 and its 200 day moving average price is $53.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Trading of Super Micro Computer

A number of institutional investors have recently made changes to their positions in SMCI. Harbour Investments Inc. lifted its holdings in Super Micro Computer by 212.0% in the 2nd quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock valued at $1,000,000 after purchasing an additional 829 shares in the last quarter. Banco Santander S.A. purchased a new position in Super Micro Computer during the second quarter worth approximately $2,542,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Super Micro Computer by 30.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,912 shares of the company’s stock worth $10,579,000 after buying an additional 3,013 shares during the last quarter. Center For Asset Management LLC grew its holdings in Super Micro Computer by 27.5% in the 2nd quarter. Center For Asset Management LLC now owns 552 shares of the company’s stock valued at $452,000 after buying an additional 119 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Super Micro Computer by 29.2% during the 2nd quarter. UMB Bank n.a. now owns 124 shares of the company’s stock worth $102,000 after acquiring an additional 28 shares during the period. 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.