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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $45.54, but opened at $55.02. Super Micro Computer shares last traded at $55.86, with a volume of 46,141,825 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on SMCI shares. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price target on shares of Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. Wedbush restated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $57.00 price target (up from $54.00) on shares of Super Micro Computer in a research note on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and a consensus target price of $60.73.

Super Micro Computer Stock Up 19.1 %

The stock has a market capitalization of $31.76 billion, a price-to-earnings ratio of 27.13 and a beta of 1.30. 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 moving average price of $35.82 and a 200 day moving average price of $39.65.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Super Micro Computer by 183.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,233 shares of the company’s stock valued at $5,554,000 after acquiring an additional 8,572 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Super Micro Computer in the third quarter valued at $289,000. Wealth Enhancement Advisory Services LLC raised its position in Super Micro Computer by 45.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,497 shares of the company’s stock worth $1,456,000 after purchasing an additional 1,097 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Super Micro Computer by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,873 shares of the company’s stock worth $2,445,000 after buying an additional 395 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in shares of Super Micro Computer by 82.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 968 shares of the company’s stock valued at $403,000 after buying an additional 436 shares during the last quarter. 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.