Super Micro Computer (NASDAQ:SMCI) Stock Price Up 9.3% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price rose 9.3% on Friday . The company traded as high as $47.33 and last traded at $46.21. Approximately 54,419,538 shares were traded during trading, an increase of 4% from the average daily volume of 52,286,293 shares. The stock had previously closed at $42.28.

Analyst Ratings Changes

Several research firms have recently weighed in on SMCI. Wedbush lifted their target price on shares of Super Micro Computer from $24.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Northland Securities reiterated an "outperform" rating and issued a $57.00 price objective (up from $54.00) on shares of Super Micro Computer in a research note on Wednesday, February 12th. Northland Capmk upgraded Super Micro Computer to a "strong-buy" rating in a research report on Friday, December 20th. The Goldman Sachs Group reduced their price target on Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Finally, Loop Capital increased their price objective on Super Micro Computer from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.20.

Super Micro Computer Trading Up 13.3 %

The firm's 50-day simple moving average is $33.59 and its 200-day simple moving average is $39.97. The firm has a market capitalization of $28.05 billion, a P/E ratio of 24.05 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company's stock valued at $1,889,531,000 after purchasing an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the last quarter. FMR LLC bought a new position in shares of Super Micro Computer during the 4th quarter valued at about $292,869,000. Invesco Ltd. raised its holdings in shares of Super Micro Computer by 929.5% during the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock valued at $229,903,000 after buying an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock worth $149,287,000 after buying an additional 4,605,260 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.