Super Micro Computer (NASDAQ:SMCI) Trading Up 3.2% After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 3.2% during trading on Wednesday after Loop Capital raised their price target on the stock from $40.00 to $50.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $43.89 and last traded at $39.86. 90,546,589 shares were traded during mid-day trading, an increase of 91% from the average session volume of 47,351,418 shares. The stock had previously closed at $38.61.

Several other research analysts also recently commented on SMCI. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday. Northland Securities restated an “outperform” rating and set a $57.00 price objective (up from $54.00) on shares of Super Micro Computer in a research report on Wednesday. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Wedbush boosted their price objective on Super Micro Computer from $24.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and an average price target of $60.20.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMCI. Salem Investment Counselors Inc. bought a new stake in Super Micro Computer in the fourth quarter valued at about $30,000. Trust Co. of Vermont increased its holdings in Super Micro Computer by 900.0% in the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock valued at $30,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC increased its holdings in Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in Super Micro Computer in the fourth quarter valued at about $31,000. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Up 6.6 %

The business has a fifty day moving average of $33.51 and a 200 day moving average of $40.31. The firm has a market cap of $24.76 billion, a P/E ratio of 21.23 and a beta of 1.30. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

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.