Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report)’s share price was up 0.3% during mid-day trading on Thursday . The stock traded as high as $35.41 and last traded at $34.42. Approximately 12,520,035 shares changed hands during trading, a decline of 85% from the average daily volume of 82,665,148 shares. The stock had previously closed at $34.33.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Needham & Company LLC initiated coverage on Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Mizuho initiated coverage on Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.89.
View Our Latest Analysis on SMCI
Super Micro Computer Stock Down 5.2 %
Institutional Trading of Super Micro Computer
Several large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its position in Super Micro Computer by 391.8% in the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after buying an additional 61,071 shares during the last quarter. Assetmark Inc. lifted its stake in Super Micro Computer by 164.8% during the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after acquiring an additional 93,569 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after acquiring an additional 21,997 shares during the last quarter. Bridgewater Associates LP increased its stake in shares of Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after acquiring an additional 145,327 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of Super Micro Computer by 143.8% during the third quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock worth $20,968,000 after purchasing an additional 29,697 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.
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