Super Micro Computer (NASDAQ:SMCI) Shares Down 8.3% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded down 8.3% during mid-day trading on Thursday . The company traded as low as $31.55 and last traded at $32.18. 19,946,299 shares were traded during mid-day trading, a decline of 73% from the average session volume of 73,184,185 shares. The stock had previously closed at $35.09.

Analyst Upgrades and Downgrades

Several research firms have commented on SMCI. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Barclays initiated coverage on Super Micro Computer in a research report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 target price for the company. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, February 11th. Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Northland Securities set a $70.00 target price on shares of Super Micro Computer in a research note on Thursday, March 6th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Super Micro Computer Stock Down 7.7 %

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 stock’s 50 day simple moving average is $39.39 and its 200 day simple moving average is $37.42. The firm has a market cap of $17.70 billion, a P/E ratio of 14.97 and a beta of 1.22.

Insider Transactions at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Liang sold 46,293 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the sale, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock valued at $6,771,552 over the last three months. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMCI. Clear Creek Financial Management LLC purchased a new stake in Super Micro Computer during the 4th quarter valued at about $635,000. Nepsis Inc. purchased a new stake in shares of Super Micro Computer during the fourth quarter valued at approximately $13,625,000. Sanctuary Advisors LLC grew its holdings in shares of Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after purchasing an additional 21,997 shares during the last quarter. Fifth Third Bancorp boosted its position in Super Micro Computer by 1,476.6% during the 4th quarter. Fifth Third Bancorp now owns 12,266 shares of the company’s stock valued at $374,000 after buying an additional 11,488 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Super Micro Computer during the fourth quarter worth about $277,000. 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.