Super Micro Computer (NASDAQ:SMCI) Trading Down 3.3% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 3.3% during trading on Thursday . The company traded as low as $30.82 and last traded at $31.17. Approximately 17,963,862 shares traded hands during trading, a decline of 78% from the average daily volume of 83,230,063 shares. The stock had previously closed at $32.23.

Analyst Ratings Changes

Several research firms have recently weighed in on SMCI. Cfra reissued a “hold” rating and issued a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Loop Capital reduced their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company dropped 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. Needham & Company LLC started coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective for the company. Finally, StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The company’s 50-day simple moving average is $35.97 and its 200 day simple moving average is $54.62. The stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 15.88 and a beta of 1.29. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama lifted its stake in shares of Super Micro Computer by 2.3% in the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after buying an additional 258 shares during the last quarter. Synovus Financial Corp bought a new position in Super Micro Computer in the 3rd quarter worth $443,000. Tidal Investments LLC lifted its position in Super Micro Computer by 143.8% during the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock worth $20,968,000 after acquiring an additional 29,697 shares during the last quarter. World Investment Advisors LLC lifted its position in Super Micro Computer by 13,210.5% during the 3rd quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock worth $23,722,000 after acquiring an additional 56,541 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position 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 valued at $12,756,000 after purchasing an additional 21,997 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.