Perhaps not quite in the way many of us would have hoped, but SGI is once again trading on the NASDAQ. This is also one of the final steps of Rackable’s transformation into Silicon Graphics International.

Rackable Systems, Inc. (NASDAQ:RACK – News) announced today the completion of its legal name change to “Silicon Graphics International Corp.” The company also announced today that it will change its NASDAQ stock ticker symbol from “RACK” to “SGI.” The stock ticker change has gone into effect for the trading community on Monday, May 18, 2009.

Full press release on Yahoo! Finance can be found here.

It looks like SGI have not been able to comply with the listing requirements since the last NASDAQ warning, and have now been issued with a notice that they will be delisted on the 12th March.

Silicon Graphics, Inc. (the “Company”) (NASDAQ: SGIC) announced today that it received a notification letter from The Nasdaq Stock Market on March 3, 2009, indicating that trading of the Company’s common stock will be suspended at the opening of business on March 12, 2009 due to a failure to comply with the market value of publicly held shares requirement for continued listing set forth in Marketplace Rule 4310(c)(3)(B). The Company has requested a hearing before a Nasdaq Listing Qualification Panel to review the Staff Determination. A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision.

With many solid government contracts, and some significant large investors who clearly still see the value of R&D at Silicon Graphics, is now the time for the company to take itself private? Or is a merger with NVidia going to be on the cards?