Super Micro Computer (NASDAQ:SMCI) Trading Down 2% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was down 2% on Tuesday . The stock traded as low as $27.22 and last traded at $28.50. Approximately 16,475,202 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 32,521,176 shares. The stock had previously closed at $29.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SMCI shares. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wedbush restated a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Loop Capital increased their price target on Super Micro Computer from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.89.

Super Micro Computer Stock Performance

The company has a market capitalization of $15.76 billion, a PE ratio of 14.15 and a beta of 1.31. The stock has a 50-day simple moving average of $33.98 and a 200 day simple moving average of $44.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Super Micro Computer by 4.3% in the third quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after purchasing an additional 88,692 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Super Micro Computer by 956.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,018 shares of the company’s stock worth $40,143,000 after purchasing an additional 1,192,366 shares during the last quarter. Geode Capital Management LLC lifted its stake in Super Micro Computer by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after buying an additional 16,007 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Super Micro Computer by 3.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after buying an additional 31,064 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after buying an additional 915,058 shares in the last quarter. 84.06% of the stock is currently 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.