Super Micro Computer (NASDAQ:SMCI) Shares Up 3.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 3.2% on Friday . The company traded as high as $48.40 and last traded at $47.71. Approximately 12,061,495 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 79,853,953 shares. The stock had previously closed at $46.23.

Wall Street Analysts Forecast Growth

SMCI has been the subject of a number of analyst reports. 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Barclays lowered their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.53.

Super Micro Computer Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 2.65 and a beta of 1.23. The business’s 50-day simple moving average is $47.12 and its 200-day simple moving average is $68.74.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business’s revenue was up 142.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. On average, research analysts expect that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Super Micro Computer

A number of large investors have recently bought and sold shares of SMCI. Farmers & Merchants Investments Inc. increased its stake in Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares in the last quarter. Moser Wealth Advisors LLC acquired a new stake in shares of Super Micro Computer in the 2nd quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the last quarter. VitalStone Financial LLC boosted its holdings in shares of Super Micro Computer by 250.0% in the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Super Micro Computer during the 2nd quarter valued at $42,000. 84.06% of the stock is owned by 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.