Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2.4% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 2.4% during trading on Thursday . The company traded as low as $35.66 and last traded at $37.96. 31,458,495 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 77,831,883 shares. The stock had previously closed at $38.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays assumed coverage on shares of Super Micro Computer in a research report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price objective on the stock. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. StockNews.com raised shares of Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $57.00 price target (up from $54.00) on shares of Super Micro Computer in a research report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.64.

Super Micro Computer Price Performance

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $36.95 and its 200 day moving average is $38.96. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 19.20 and a beta of 1.21.

Insiders Place Their Bets

In other news, Director Robert L. Blair sold 19,460 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George Kao sold 71,720 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the transaction, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMCI. Vanguard Group Inc. raised its holdings in Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after buying an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC raised its holdings in Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after purchasing an additional 11,580,677 shares during the last quarter. FMR LLC bought a new position in Super Micro Computer during the 4th quarter worth approximately $292,869,000. Invesco Ltd. raised its holdings in Super Micro Computer by 929.5% during the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after purchasing an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Super Micro Computer by 1,573.8% during the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after purchasing an additional 4,605,260 shares during the last quarter. 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.