Super Micro Computer (NASDAQ:SMCI) Shares Down 2.3% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price dropped 2.3% on Tuesday . The company traded as low as $25.10 and last traded at $25.42. Approximately 25,250,359 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 80,368,242 shares. The stock had previously closed at $26.03.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Susquehanna increased their price objective on Super Micro Computer from $28.50 to $32.50 and gave the company a “negative” rating in a report on Monday, July 15th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Super Micro Computer in a report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.33.

Super Micro Computer Stock Up 3.6 %

The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 13.22 and a beta of 1.28. The business has a 50-day moving average of $43.93 and a 200-day moving average of $66.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results 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 net margin of 8.09% and a return on equity of 30.57%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm posted $0.34 earnings per share. Super Micro Computer’s revenue was up 142.9% on a year-over-year basis. On average, sell-side analysts expect that Super Micro Computer, Inc. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Farmers & Merchants Investments Inc. lifted 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 worth $25,000 after purchasing an additional 24 shares in the last quarter. Moser Wealth Advisors LLC purchased a new stake in Super Micro Computer during the 2nd quarter worth about $25,000. Hazlett Burt & Watson Inc. grew its position in shares of Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after buying an additional 24 shares in the last quarter. VitalStone Financial LLC increased its stake in shares of Super Micro Computer by 250.0% during the first quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after buying an additional 25 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in Super Micro Computer in the second quarter valued at approximately $42,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.