Super Micro Computer (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The brokerage currently has a $24.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 21.21% from the stock’s current price.

According to Zacks, “Super Micro Computer, Inc. designs, develops, manufactures and sells energy-efficient, application optimized server solutions based on the x86 architecture. The Company’s solutions include a range of rack mount and blade server systems, as well as components. Supermicro emphasizes superior product design and uncompromising quality control to produce industry-leading serverboards, chassis and server systems. These Server Building Block Solutions provide benefits across many environments, including data center deployment, high-performance computing, high-end workstations, storage networks and standalone server installations. Super Micro Computer sells its server systems and components primarily through distributors, which include value-added resellers and system integrators, and to a lesser extent, to original equipment manufacturers (OEMs). Super Micro Computer, Inc. is headquartered in San Jose, California. “

A number of other research analysts have also weighed in on SMCI. TheStreet lowered shares of Super Micro Computer from a “b-” rating to a “c” rating in a research report on Tuesday, October 10th. Maxim Group reissued a “buy” rating and set a $45.00 price target on shares of Super Micro Computer in a research report on Friday, October 27th. Wells Fargo & Co started coverage on shares of Super Micro Computer in a research report on Tuesday, November 14th. They set a “market perform” rating and a $20.00 price target on the stock. Finally, BidaskClub lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Super Micro Computer has a consensus rating of “Hold” and an average price target of $28.75.

Super Micro Computer (NASDAQ:SMCI) opened at $19.80 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.15 and a debt-to-equity ratio of 0.12. Super Micro Computer has a 12-month low of $17.70 and a 12-month high of $27.90. The firm has a market cap of $939.78, a PE ratio of 14.78, a P/E/G ratio of 1.00 and a beta of -0.15.

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in Super Micro Computer by 4.1% in the second quarter. State Street Corp now owns 965,582 shares of the technology company’s stock worth $23,802,000 after acquiring an additional 38,013 shares during the period. SG Americas Securities LLC bought a new stake in Super Micro Computer in the third quarter worth about $303,000. Schwab Charles Investment Management Inc. raised its position in Super Micro Computer by 15.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 250,221 shares of the technology company’s stock worth $6,168,000 after acquiring an additional 34,390 shares during the period. JPMorgan Chase & Co. raised its position in Super Micro Computer by 271.7% in the third quarter. JPMorgan Chase & Co. now owns 209,705 shares of the technology company’s stock worth $4,592,000 after acquiring an additional 153,284 shares during the period. Finally, Northern Trust Corp raised its position in Super Micro Computer by 3.2% in the second quarter. Northern Trust Corp now owns 497,363 shares of the technology company’s stock worth $12,260,000 after acquiring an additional 15,652 shares during the period. 79.55% of the stock is currently owned by institutional investors and hedge funds.

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About Super Micro Computer

Super Micro Computer, Inc is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.

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