Super Micro Computer (NASDAQ:SMCI) Trading Up 10.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price rose 10.6% during trading on Tuesday . The company traded as high as $31.84 and last traded at $31.69. Approximately 55,493,889 shares were traded during trading, an increase of 27% from the average daily volume of 43,823,891 shares. The stock had previously closed at $28.64.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James Financial lowered their price objective on shares of Super Micro Computer from $45.00 to $39.00 in a research report on Friday, June 12th. The Goldman Sachs Group reissued a “sell” rating on shares of Super Micro Computer in a research note on Wednesday, May 6th. Rosenblatt Securities set a $45.00 price target on shares of Super Micro Computer and gave the company a “buy” rating in a report on Wednesday, July 22nd. Needham & Company LLC boosted their price objective on shares of Super Micro Computer from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Citigroup reaffirmed a “neutral” rating and set a $33.00 price objective (up from $31.00) on shares of Super Micro Computer in a report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $39.21.

Super Micro Computer Stock Performance

The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.34 and a beta of 1.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.66 and a quick ratio of 1.29. The stock has a 50-day moving average of $32.07 and a 200 day moving average of $30.45.

Super Micro Computer (NASDAQ:SMCI) last released its earnings results on Tuesday, May 5th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. Super Micro Computer had a net margin of 3.70% and a return on equity of 17.49%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue was up 122.7% compared to the same quarter last year. On average, analysts expect that Super Micro Computer, Inc. will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new stake in shares of Super Micro Computer during the 4th quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in shares of Super Micro Computer in the 4th quarter valued at $26,000. Arax Advisory Partners bought a new position in shares of Super Micro Computer in the 4th quarter worth $28,000. SHP Wealth Management bought a new position in shares of Super Micro Computer in the 4th quarter worth $29,000. Finally, Concord Wealth Partners grew its stake in shares of Super Micro Computer by 2,564.1% during the fourth quarter. Concord Wealth Partners now owns 1,039 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. 84.06% of the stock is currently owned by institutional investors and hedge funds.

About Super Micro Computer

Super Micro Computer, Inc (Supermicro) is a technology company that designs, develops and manufactures high-performance server, storage and networking solutions for enterprise, cloud, data center, high performance computing (HPC) and edge computing customers. The company’s product portfolio includes rackmount and blade servers, storage subsystems, motherboards, chassis, power supplies and networking components, with an emphasis on high-density, energy-efficient configurations and platforms optimized for GPU-accelerated workloads and artificial intelligence applications.

Headquartered in San Jose, California, Supermicro combines in-house engineering with a global manufacturing and distribution footprint to deliver configurable, application-specific systems.