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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SMCI shares. Rosenblatt Securities set a $45.00 target price on Super Micro Computer and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. CJS Securities upgraded shares of Super Micro Computer from a “market underperform” rating to a “market perform” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Super Micro Computer from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price objective on shares of Super Micro Computer from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $33.00 target price (up from $31.00) on shares of Super Micro Computer in a research note on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.21.

Super Micro Computer Trading Up 10.6%

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 market capitalization of $19.06 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 0.34 and a beta of 1.95. The business has a 50 day simple moving average of $32.07 and a 200-day simple moving average of $30.45.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC bought a new stake in shares of Super Micro Computer during the fourth quarter worth $25,000. Elyxium Wealth LLC bought a new stake in Super Micro Computer in the 4th quarter valued at $26,000. Arax Advisory Partners bought a new stake in Super Micro Computer in the 4th quarter valued at $28,000. SHP Wealth Management acquired a new position in Super Micro Computer in the 4th quarter worth $29,000. Finally, Concord Wealth Partners boosted its stake in Super Micro Computer by 2,564.1% in the 4th 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. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Company Profile

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.