Super Micro Computer (NASDAQ:SMCI) Stock Price Down 7.4% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price fell 7.4% during mid-day trading on Thursday . The company traded as low as $17.36 and last traded at $18.83. 48,020,879 shares were traded during trading, a decline of 40% from the average session volume of 80,410,328 shares. The stock had previously closed at $20.33.

Analysts Set New Price Targets

A number of research firms have recently commented on SMCI. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Loop Capital cut their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Cfra reissued a “hold” rating and set a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Finally, Mizuho began coverage on Super Micro Computer in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The firm has a market capitalization of $10.39 billion, a P/E ratio of 9.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock’s 50 day moving average is $39.66 and its two-hundred day moving average is $62.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after buying an additional 1,265,542 shares during the period. State Street Corp boosted its stake in Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after acquiring an additional 88,692 shares during the last quarter. GQG Partners LLC acquired a new position in Super Micro Computer during the first quarter valued at approximately $1,325,466,000. Geode Capital Management LLC increased its stake in Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after purchasing an additional 16,007 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Super Micro Computer by 3.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after purchasing an additional 31,064 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.