Super Micro Computer (NASDAQ:SMCI) Shares Gap Up After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $23.00 to $35.00. The stock had previously closed at $38.61, but opened at $42.30. JPMorgan Chase & Co. currently has an underweight rating on the stock. Super Micro Computer shares last traded at $40.86, with a volume of 63,742,524 shares changing hands.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group cut their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday. Loop Capital boosted their price target on Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Finally, Northland Securities reiterated an “outperform” rating and set a $57.00 target price (up previously from $54.00) on shares of Super Micro Computer in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer has an average rating of “Hold” and a consensus price target of $59.00.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new position in shares of Super Micro Computer during the third quarter worth approximately $87,000. Miller Wealth Advisors LLC bought a new position in Super Micro Computer during the 3rd quarter worth $152,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Super Micro Computer by 252.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company’s stock worth $156,000 after buying an additional 268 shares in the last quarter. Prospect Financial Services LLC bought a new stake in shares of Super Micro Computer in the third quarter valued at about $208,000. Finally, Wealth Effects LLC raised its stake in Super Micro Computer by 90.7% in the 3rd quarter. Wealth Effects LLC now owns 515 shares of the company’s stock worth $214,000 after purchasing an additional 245 shares in the last quarter. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Stock Up 5.2 %

The stock’s fifty day simple moving average is $33.53 and its 200-day simple moving average is $40.52. The stock has a market cap of $23.79 billion, a P/E ratio of 20.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

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.