Super Micro Computer (NASDAQ:SMCI) Shares Down 1.8% – Should You Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were down 1.8% during mid-day trading on Friday . The company traded as low as $17.62 and last traded at $17.68. Approximately 19,158,344 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 80,346,719 shares. The stock had previously closed at $18.01.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMCI. Mizuho began coverage on Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective for the company. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Cfra reiterated a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Down 1.9 %

The company has a market cap of $9.88 billion, a P/E ratio of 8.83 and a beta of 1.28. 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 has a fifty day moving average of $40.12 and a 200 day moving average of $63.11.

Institutional Investors Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC grew its position in Super Micro Computer by 4.9% during the third quarter. Needham Investment Management LLC now owns 130,750 shares of the company’s stock valued at $54,444,000 after buying an additional 6,050 shares during the period. IHT Wealth Management LLC grew its position in shares of Super Micro Computer by 678.6% during the 3rd quarter. IHT Wealth Management LLC now owns 3,574 shares of the company’s stock valued at $1,488,000 after acquiring an additional 3,115 shares during the period. Investment Management Corp of Ontario raised its holdings in Super Micro Computer by 53.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 1,732 shares of the company’s stock worth $721,000 after purchasing an additional 600 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Super Micro Computer during the third quarter valued at $906,000. Finally, Janus Henderson Group PLC grew its holdings in Super Micro Computer by 36.0% during the third quarter. Janus Henderson Group PLC now owns 6,560 shares of the company’s stock valued at $2,732,000 after purchasing an additional 1,736 shares during the period. Hedge funds and other 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.