Super Micro Computer (NASDAQ:SMCI) Stock Price Down 1.4% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 1.4% on Monday . The stock traded as low as $36.75 and last traded at $37.71. Approximately 28,469,961 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 77,231,453 shares. The stock had previously closed at $38.24.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMCI. JPMorgan Chase & Co. upped their price objective on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. Barclays began coverage on shares of Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price target on the stock. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, February 11th. Finally, Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and a consensus price target of $52.57.

Super Micro Computer Stock Down 3.6 %

The company has a 50 day moving average of $37.08 and a 200-day moving average of $38.64. The company has a market capitalization of $21.89 billion, a P/E ratio of 18.51 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 over the last quarter. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMCI. Castle Rock Wealth Management LLC purchased a new stake in shares of Super Micro Computer in the fourth quarter worth $207,000. Park Square Financial Group LLC purchased a new stake in Super Micro Computer during the 4th quarter valued at about $475,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Super Micro Computer during the 4th quarter valued at about $8,785,000. Bernard Wealth Management Corp. bought a new stake in Super Micro Computer during the 4th quarter valued at about $33,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Super Micro Computer in the fourth quarter worth about $70,000. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Company Profile

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.