Super Micro Computer (NASDAQ:SMCI) Stock Price Down 7.1% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was down 7.1% during mid-day trading on Tuesday . The stock traded as low as $39.02 and last traded at $39.02. Approximately 111,643,809 shares traded hands during trading, an increase of 34% from the average daily volume of 83,430,133 shares. The stock had previously closed at $42.00.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Cfra reissued a “hold” rating and set a $45.40 price target (down from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Super Micro Computer in a report on Wednesday, August 7th. Needham & Company LLC began coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Mizuho assumed coverage on Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The stock has a 50-day moving average price of $37.30 and a 200 day moving average price of $59.06. The firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of 19.59 and a beta of 1.29. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SMCI. Farmers & Merchants Investments Inc. grew its stake in shares of Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC acquired a new stake in Super Micro Computer in the 2nd quarter worth about $25,000. Hazlett Burt & Watson Inc. grew its holdings in Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the period. AlphaCentric Advisors LLC acquired a new position in shares of Super Micro Computer during the 2nd quarter valued at about $42,000. Finally, First PREMIER Bank grew its holdings in Super Micro Computer by 126.1% in the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after purchasing an additional 29 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.