Super Micro Computer (NASDAQ:SMCI) Shares Down 4% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded down 4% during mid-day trading on Monday . The stock traded as low as $25.71 and last traded at $27.38. 24,109,202 shares were traded during mid-day trading, a decline of 25% from the average session volume of 32,274,641 shares. The stock had previously closed at $28.52.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Loop Capital boosted their price objective on shares of Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.89.

Super Micro Computer Stock Up 8.0 %

The firm has a 50 day moving average price of $33.57 and a 200-day moving average price of $41.89. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 15.81 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. boosted its stake in Super Micro Computer by 391.8% in the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after acquiring an additional 61,071 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Super Micro Computer by 164.8% in the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after purchasing an additional 93,569 shares during the period. Clear Creek Financial Management LLC bought a new position in shares of Super Micro Computer in the 4th quarter worth $635,000. Nepsis Inc. acquired a new stake in shares of Super Micro Computer during the fourth quarter worth $13,625,000. Finally, Sanctuary Advisors LLC lifted its stake in Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after buying an additional 21,997 shares during the period. 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.