Super Micro Computer (NASDAQ:SMCI) Trading Up 13.3% - Here's Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shot up 13.3% during trading on Monday . The company traded as high as $48.18 and last traded at $47.91. 132,026,965 shares were traded during trading, an increase of 269% from the average session volume of 35,788,788 shares. The stock had previously closed at $42.28.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SMCI. Loop Capital upped their price objective on shares of Super Micro Computer from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Super Micro Computer from $23.00 to $35.00 and gave the stock an "underweight" rating in a report on Wednesday, February 12th. Cfra upgraded Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group dropped their price objective on Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. Finally, Northland Securities restated an "outperform" rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Super Micro Computer currently has a consensus rating of "Hold" and an average price target of $60.20.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a fifty day simple moving average of $34.83 and a 200 day simple moving average of $39.86. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 29.75 and a beta of 1.30.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in shares of Super Micro Computer by 9.1% in the third quarter. Creative Planning now owns 9,038 shares of the company's stock valued at $3,763,000 after acquiring an additional 755 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Super Micro Computer by 24.8% in the third quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company's stock valued at $877,000 after acquiring an additional 419 shares during the period. Signaturefd LLC boosted its position in shares of Super Micro Computer by 47.4% in the third quarter. Signaturefd LLC now owns 1,191 shares of the company's stock valued at $496,000 after acquiring an additional 383 shares during the period. International Assets Investment Management LLC boosted its position in shares of Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company's stock valued at $381,629,000 after acquiring an additional 915,058 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Super Micro Computer in the third quarter valued at approximately $11,888,000. Institutional investors and hedge funds own 84.06% of the company's stock.

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.