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

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SMCI shares. Wedbush upped their price target on Super Micro Computer from $24.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group dropped their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.20.

Super Micro Computer Price Performance

The stock has a 50 day moving average price of $34.41 and a two-hundred day moving average price of $39.72. 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 company has a market capitalization of $36.01 billion, a PE ratio of 30.70 and a beta of 1.30.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new position in shares of Super Micro Computer in the 3rd quarter valued at approximately $87,000. Retirement Systems of Alabama raised its stake in shares of Super Micro Computer by 2.3% in the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after acquiring an additional 258 shares in the last quarter. TrueWealth Advisors LLC raised its stake in shares of Super Micro Computer by 99.0% in the 3rd quarter. TrueWealth Advisors LLC now owns 593 shares of the company’s stock valued at $247,000 after acquiring an additional 295 shares in the last quarter. Wahed Invest LLC raised its stake in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock valued at $377,000 after acquiring an additional 352 shares in the last quarter. Finally, Miller Wealth Advisors LLC bought a new position in shares of Super Micro Computer in the 3rd quarter valued at approximately $152,000. 84.06% of the stock is owned by hedge funds and other 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.