Super Micro Computer Inc ( SMCI ) shares have surged 17% to $38.30 in the month of December following the results of an internal investigation by its Special Committee. The probe, conducted with legal and forensic experts, found no evidence of misconduct or fraud by management or the board.

The review examined areas like rehiring practices, revenue recognition and export controls, uncovering governance gaps. In response, the board approved key reforms, including appointing a new CFO to succeed David Weigand and hiring a chief compliance officer, general counsel, and chief accounting officer.

Super Micro also pledged to enhance training and tighten financial controls to restore investor confidence. These measures aim to address lingering concerns despite the investigation's reassuring findings.

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What Else: JPMorgan maintained its Underweight rating on SMCI with a $23 price target, citing stable customer demand. Super Micro reassured investors that its customer base remains solid, with no major order shifts.

The company is preparing for new product launches and expects its Malaysian plant to ramp up production in early 2025, supporting quarterly revenues of $5.5–$6 billion.

However, challenges persist. A recent governance issue flagged by Ernst & Young led to the auditor's resignation, raising concerns about Super Micro's compliance and contributing to its marked market cap plunge. SMCI may also be at risk of Nasdaq 100 exclusion during December's reshuffle.

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How To Buy SMCI Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Super Micro Computer’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, SMCI has a 52-week high of $122.90 and a 52-week low of $17.25.