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Super Micro Computer (NASDAQ:SMCI) Trading Up 2.1% - Here's What Happened
Super Micro Computer (SMCI) saw its stock rise by 2.1% during mid-day trading following a strong Q4 earnings beat, where the company exceeded EPS and revenue expectations, and reported a 123.4% year-over-year revenue increase. Despite the positive earnings, several analysts have recently cut price targets, resulting in a consensus “Hold” rating for the stock. Institutional ownership of SMCI stands at approximately 84.06%, with various firms adjusting their stakes in the company during the fourth quarter.