Super Micro Computer (NASDAQ:SMCI) Trading 2.8% Higher After Analyst Upgrade

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were up 2.8% on Friday after Loop Capital raised their price target on the stock from $35.00 to $40.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $34.70 and last traded at $34.36. Approximately 13,967,897 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 30,618,381 shares. The stock had previously closed at $33.41.

Several other equities analysts have also recently weighed in on SMCI. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays decreased their price objective 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. Finally, Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in 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 worth $381,629,000 after acquiring an additional 915,058 shares during the last quarter. Nepsis Inc. purchased a new stake in Super Micro Computer during the 4th quarter valued at $13,625,000. Annex Advisory Services LLC bought a new stake in Super Micro Computer in the fourth quarter worth $6,708,000. Diversify Advisory Services LLC purchased a new position in Super Micro Computer during the fourth quarter worth $5,113,000. Finally, abrdn plc increased its position in Super Micro Computer by 825.5% during the fourth quarter. abrdn plc now owns 174,602 shares of the company’s stock valued at $5,316,000 after acquiring an additional 155,737 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

Super Micro Computer Trading Down 0.4 %

The company’s 50 day moving average price is $33.83 and its two-hundred day moving average price is $45.41. The firm has a market cap of $18.61 billion, a PE ratio of 16.70 and a beta of 1.31. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

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.