Super Micro Computer (NASDAQ:SMCI) Shares Up 6.8% – Should You Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 6.8% during trading on Monday . The stock traded as high as $44.97 and last traded at $43.93. 108,671,335 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 114,475,176 shares. The stock had previously closed at $41.14.

Analysts Set New Price Targets

Several research analysts have issued reports on SMCI shares. Wells Fargo & Company cut their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Loop Capital reduced their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Cfra restated a “hold” rating and set a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Trading Down 8.2 %

The business has a 50-day moving average of $37.03 and a 200 day moving average of $56.72. The stock has a market cap of $22.68 billion, a PE ratio of 20.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently modified their holdings of SMCI. Byrne Asset Management LLC boosted its position in Super Micro Computer by 10.4% during the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after acquiring an additional 14 shares during the last quarter. Fielder Capital Group LLC boosted its holdings in shares of Super Micro Computer by 2.8% during the second quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock worth $475,000 after purchasing an additional 16 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Super Micro Computer by 5.0% during the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after purchasing an additional 18 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Super Micro Computer by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 4,322 shares of the company’s stock valued at $3,541,000 after purchasing an additional 19 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in Super Micro Computer by 10.6% in the second quarter. First Horizon Advisors Inc. now owns 219 shares of the company’s stock valued at $179,000 after purchasing an additional 21 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Company Profile

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.