Super Micro Computer (NASDAQ:SMCI) Shares Down 2% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) fell 2% during mid-day trading on Tuesday . The stock traded as low as $27.22 and last traded at $28.50. 16,475,202 shares changed hands during trading, a decline of 49% from the average session volume of 32,521,176 shares. The stock had previously closed at $29.07.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Barclays lowered their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and an average target price of $62.89.

Super Micro Computer Stock Up 3.0 %

The firm’s fifty day simple moving average is $34.01 and its 200 day simple moving average is $43.48. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 14.38 and a beta of 1.31.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently bought and sold shares of the business. Anchor Investment Management LLC increased its holdings in shares of Super Micro Computer by 13.7% in the 2nd quarter. Anchor Investment Management LLC now owns 324 shares of the company’s stock valued at $265,000 after acquiring an additional 39 shares during the last quarter. Quarry LP boosted its holdings in Super Micro Computer by 5,850.0% in the second quarter. Quarry LP now owns 119 shares of the company’s stock valued at $98,000 after purchasing an additional 117 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Super Micro Computer in the third quarter valued at approximately $87,000. Wealth Effects LLC raised its holdings in Super Micro Computer by 90.7% during the third quarter. Wealth Effects LLC now owns 515 shares of the company’s stock worth $214,000 after purchasing an additional 245 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Super Micro Computer by 2.3% during the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after buying an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

About Super Micro Computer

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.