Super Micro Computer (NASDAQ:SMCI) Shares Down 4% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price fell 4% on Friday . The stock traded as low as $26.51 and last traded at $27.95. 36,698,141 shares were traded during mid-day trading, a decline of 54% from the average session volume of 80,244,523 shares. The stock had previously closed at $29.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMCI. JPMorgan Chase & Co. lowered Super Micro Computer from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $50.00 in a research report on Friday, September 6th. Susquehanna upped their price target on Super Micro Computer from $28.50 to $32.50 and gave the company a “negative” rating in a research report on Monday, July 15th. The Goldman Sachs Group dropped their target price on Super Micro Computer from $77.50 to $67.50 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Nomura Securities downgraded Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.53.

Super Micro Computer Trading Down 7.6 %

The firm’s 50-day moving average price is $45.33 and its 200 day moving average price is $67.30. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 13.72 and a beta of 1.23.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. Super Micro Computer’s revenue was up 142.9% compared to the same quarter last year. As a group, equities analysts expect that Super Micro Computer, Inc. will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. boosted its position in shares of Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after buying an additional 24 shares during the last quarter. Moser Wealth Advisors LLC purchased a new position in Super Micro Computer during the 2nd quarter valued at $25,000. Hazlett Burt & Watson Inc. raised its position in Super Micro Computer by 141.2% during 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 in the last quarter. VitalStone Financial LLC lifted its stake in shares of Super Micro Computer by 250.0% during the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Super Micro Computer during the 2nd quarter worth $42,000. Institutional investors own 84.06% of the company’s stock.

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.