Super Micro Computer Shares Rise After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) experienced a significant increase in its stock price, rising by 3.2% on Wednesday following an upgrade from JPMorgan Chase & Co. The investment firm raised its price target for Super Micro Computer from $23.00 to $35.00. Despite this upgrade, JPMorgan maintains an underweight rating on the stock. During the trading session, Super Micro Computer reached a high of $43.89 before closing at $39.86. The trading volume for the day was 90,546,589 shares, which represents a 91% increase compared to the average session volume of 47,351,418 shares. This follows a previous closing price of $38.61.

Several other analysts have also recently updated their evaluations of Super Micro Computer. Northland Capital Markets upgraded the stock to a "strong-buy" rating in a report issued on December 20th. Additionally, Cfra changed their rating from "hold" to "buy," with a new price target of $48.00. In contrast, the Goldman Sachs Group lowered their price target from $67.50 to $28.00, while maintaining a "neutral" rating. Northland Securities reaffirmed an "outperform" rating with a newly adjusted price target of $57.00, up from $54.00. Conversely, Argus downgraded the stock from a "buy" to a "hold" rating in a note released on October 31st. Currently, three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given it a buy rating, and one has assigned a strong buy rating. Based on MarketBeat data, Super Micro Computer has an average rating of "Hold" and a consensus price target of $59.00.

Institutional Ownership Trends

Recent changes in institutional holdings also reflect growing interest in Super Micro Computer. Emerald Mutual Fund Advisers Trust made a new investment during the third quarter valued at approximately $87,000. Wealth Effects LLC increased its stake by 90.7% during the same period, now holding 515 shares worth $214,000 after acquiring an additional 245 shares. Retirement Systems of Alabama raised its holdings by 2.3%, bringing its total to 11,367 shares valued at $4,733,000 after adding 258 shares. Livforsakringsbolaget Skandia Omsesidigt boosted its stake significantly by 252.8%, now owning 374 shares worth $156,000 after acquiring 268 additional shares. CWM LLC also increased its holdings by 11.7%, owning 2,773 shares valued at $1,155,000 after purchasing an extra 290 shares. Notably, institutional investors and hedge funds currently hold 84.06% of the stock.

Stock Performance Overview

As for Super Micro Computer's performance metrics, the fifty-day moving average is $33.53, while the two-hundred-day moving average is $40.52. The company's market capitalization stands at $23.41 billion, with a price-to-earnings (P/E) ratio of 20.04 and a beta of 1.30. It boasts a current ratio of 3.77, a quick ratio of 1.93, and maintains a debt-to-equity ratio of 0.32.

About Super Micro Computer

Super Micro Computer, Inc. is a leading technology company specializing in high-performance server and storage solutions. The company operates on a modular and open architecture, offering a variety of products including complete server systems, storage devices, modular blade servers, workstations, networking equipment, and server management and security software. They provide these solutions across the United States, Europe, Asia, and other international markets.

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