What Can Super Micro Computer Inc (NASDAQ: SMCI) Expect In 2024?

Super Micro Computer Inc (NASDAQ:SMCI) price on Wednesday, July 10, rose 0.49% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $899.98.

A look at the stock’s price movement, the close in the last trading session was $895.61. The PE ratio in trailing twelve months stood at 50.51. Turning to its 52-week performance, $1229.00 and $226.59 were the 52-week high and 52-week low respectively. Overall, SMCI moved 17.02% over the past month.

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Super Micro Computer Inc’s market cap currently stands at around $52.70 billion.

Turning to the stock’s technical picture we see that short term indicators suggest on average that SMCI is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

The technical evaluation for the stock shows the PEG ratio is 0.81, with SMCI’s current price about 5.73% and 7.24% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 56.80, while 7-day volatility ratio is 5.46% and 6.98% in the 30-day chart. Further, Super Micro Computer Inc (SMCI) has a beta value of 1.27, and an average true range (ATR) of 58.12.

If we refocus on Super Micro Computer Inc (NASDAQ:SMCI), historical trading data shows that trading volumes averaged 6.56 million over the past 3 months. The company’s latest data on shares outstanding shows there are 52.90 million shares.

The 14.27% of Super Micro Computer Inc’s shares are in the hands of company insiders while institutional holders own 59.31% of the company’s shares. Current price change has pushed the stock 216.60% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SMCI stock continues to rise going into the next quarter.

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