Super Micro Computer (NASDAQ:SMCI) Shares Down 4.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was down 4.2% during mid-day trading on Tuesday . The stock traded as low as $38.85 and last traded at $40.20. Approximately 17,832,133 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 73,544,016 shares. The stock had previously closed at $41.94.

Analyst Ratings Changes

SMCI has been the topic of several research analyst reports. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group upped their target price on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Barclays assumed coverage on 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. Finally, Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.57.

Super Micro Computer Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 20.35 and a beta of 1.21. The firm’s 50-day moving average is $38.12 and its 200 day moving average is $37.96.

Insider Buying and Selling at Super Micro Computer

In related news, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,473 shares of company stock valued at $6,771,552. Company insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently added to or reduced their stakes in SMCI. Vanguard Group Inc. lifted its stake in shares of Super Micro Computer by 908.4% in the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after buying an additional 11,580,677 shares during the last quarter. FMR LLC acquired a new stake in shares of Super Micro Computer during the fourth quarter worth approximately $292,869,000. Invesco Ltd. grew its position in shares of Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after buying an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after acquiring an additional 4,605,260 shares in the last quarter. Institutional investors and hedge funds 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.