Super Micro Computer (NASDAQ:SMCI) Shares Down 5.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price dropped 5.2% during mid-day trading on Wednesday . The stock traded as low as $25.81 and last traded at $26.81. Approximately 37,466,007 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 81,590,852 shares. The stock had previously closed at $28.27.

Analysts Set New Price Targets

A number of research firms recently issued reports on SMCI. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Super Micro Computer in a report on Wednesday, August 7th. Wells Fargo & Company lowered their price target on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. The Goldman Sachs Group reduced their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Cfra reiterated a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Finally, Mizuho assumed coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price target for the company. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Super Micro Computer has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Down 10.0 %

The company has a market cap of $14.23 billion, a P/E ratio of 13.47 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a fifty day moving average price of $39.06 and a two-hundred day moving average price of $61.75.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors have recently added to or reduced their stakes in the company. Invst LLC raised its position in Super Micro Computer by 4.3% in the first quarter. Invst LLC now owns 337 shares of the company’s stock worth $350,000 after acquiring an additional 14 shares during the period. Byrne Asset Management LLC increased its stake in Super Micro Computer by 10.4% in the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock valued at $132,000 after acquiring an additional 14 shares during the last quarter. Versant Capital Management Inc raised its position in Super Micro Computer by 30.0% during the second quarter. Versant Capital Management Inc now owns 65 shares of the company’s stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. Fielder Capital Group LLC lifted its stake in Super Micro Computer by 2.8% during the second quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock worth $475,000 after purchasing an additional 16 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Super Micro Computer by 5.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after purchasing an additional 18 shares in the last quarter. 84.06% of the stock is owned by institutional investors.

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.