Super Micro Computer (NASDAQ:SMCI) Trading 4.2% Higher – Time to Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were up 4.2% during trading on Tuesday . The stock traded as high as $35.37 and last traded at $34.85. Approximately 20,529,174 shares traded hands during trading, a decline of 75% from the average daily volume of 83,563,063 shares. The stock had previously closed at $33.44.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Cfra reissued a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. The Goldman Sachs Group decreased their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Barclays dropped their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The firm has a market cap of $18.75 billion, a PE ratio of 17.50 and a beta of 1.29. 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 business’s fifty day moving average is $36.51 and its 200-day moving average is $55.29.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds have recently modified their holdings of the stock. Byrne Asset Management LLC grew its holdings in Super Micro Computer by 10.4% during the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock valued at $132,000 after purchasing an additional 14 shares during the period. Fielder Capital Group LLC lifted its position in shares of Super Micro Computer by 2.8% during the 2nd quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock valued at $475,000 after buying an additional 16 shares during the last quarter. Kathmere Capital Management LLC grew its stake in shares of Super Micro Computer by 5.0% during the 2nd quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after acquiring an additional 18 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Super Micro Computer by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,322 shares of the company’s stock worth $3,541,000 after acquiring an additional 19 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Super Micro Computer by 10.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 219 shares of the company’s stock worth $179,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.

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.