Super Micro Computer (NASDAQ:SMCI) Shares Down 6.9% – Time to Sell?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) fell 6.9% during mid-day trading on Monday . The company traded as low as $31.11 and last traded at $32.64. 60,119,948 shares were traded during mid-day trading, a decline of 27% from the average session volume of 82,671,070 shares. The stock had previously closed at $35.07.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SMCI. Cfra reaffirmed a “hold” rating and issued a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Mizuho began coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective on the stock. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, Needham & Company LLC began coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Down 4.3 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The firm’s 50-day simple moving average is $37.23 and its 200 day simple moving average is $58.69. The stock has a market capitalization of $22.49 billion, a P/E ratio of 20.19 and a beta of 1.29.

Institutional Investors Weigh In On Super Micro Computer

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