Super Micro Computer (NASDAQ:SMCI) Shares Down 2.9% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price dropped 2.9% on Tuesday . The stock traded as low as $43.08 and last traded at $43.50. Approximately 15,811,703 shares were traded during trading, a decline of 78% from the average daily volume of 72,378,703 shares. The stock had previously closed at $44.79.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. KGI Securities started coverage on Super Micro Computer in a report on Wednesday, May 7th. They set a “neutral” rating on the stock. Raymond James initiated coverage on Super Micro Computer in a report on Tuesday, May 13th. They set an “outperform” rating and a $41.00 target price for the company. Mizuho raised their target price on shares of Super Micro Computer from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $39.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and a consensus price target of $45.63.

Super Micro Computer Price Performance

The stock has a market capitalization of $25.80 billion, a P/E ratio of 21.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a 50-day simple moving average of $35.73 and a 200 day simple moving average of $35.23.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling 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 on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock worth $6,771,552 over the last ninety days. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management grew its holdings in shares of Super Micro Computer by 930.2% during the 4th quarter. Brookstone Capital Management now owns 6,995 shares of the company’s stock valued at $213,000 after purchasing an additional 6,316 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Super Micro Computer during the fourth quarter valued at $2,542,000. Trust Co. of Vermont increased its holdings in shares of Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Annex Advisory Services LLC purchased a new position in shares of Super Micro Computer in the 4th quarter worth $6,708,000. Finally, Diversify Advisory Services LLC bought a new position in Super Micro Computer in the fourth quarter worth approximately $5,113,000. 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.