Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – What’s Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up before the market opened on Thursday . The stock had previously closed at $34.33, but opened at $35.09. Super Micro Computer shares last traded at $34.50, with a volume of 6,934,858 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SMCI shares. Needham & Company LLC assumed coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price objective for the company. Loop Capital cut their price target on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Barclays cut their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Finally, Argus cut Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Down 5.2 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $33.91 and a two-hundred day simple moving average of $52.75. The firm has a market cap of $17.89 billion, a PE ratio of 16.05 and a beta of 1.29.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Super Micro Computer by 4.3% in the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after acquiring an additional 88,692 shares during the last quarter. Geode Capital Management LLC lifted its stake in Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock worth $529,753,000 after purchasing an additional 16,007 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Super Micro Computer by 3.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after buying an additional 31,064 shares during the period. International Assets Investment Management LLC grew its stake in shares of Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after buying an additional 915,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Super Micro Computer by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after acquiring an additional 2,011 shares during the last quarter. Hedge funds and other 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.