Super Micro Computer (NASDAQ:SMCI) Trading Down 3.9% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 3.9% on Thursday . The stock traded as low as $54.30 and last traded at $57.90. Approximately 73,096,542 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 67,475,789 shares. The stock had previously closed at $60.25.

Wall Street Analyst Weigh In

SMCI has been the subject of several recent research reports. Northland Securities reissued an “outperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group reduced their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Loop Capital lifted their target price on Super Micro Computer from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.20.

Super Micro Computer Stock Down 5.4 %

The stock has a 50-day moving average of $35.23 and a two-hundred day moving average of $39.97. The company has a market cap of $32.83 billion, a P/E ratio of 28.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently bought and sold shares of SMCI. Salem Investment Counselors Inc. bought a new stake in Super Micro Computer in the 4th quarter worth approximately $30,000. Trust Co. of Vermont lifted its position in 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 buying an additional 900 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Super Micro Computer by 2,890.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after buying an additional 954 shares during the last quarter. Larson Financial Group LLC lifted its position in Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in Super Micro Computer in the 4th quarter worth approximately $31,000. 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.