Super Micro Computer (NASDAQ:SMCI) Trading Down 8.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was down 8.2% during mid-day trading on Wednesday . The stock traded as low as $36.07 and last traded at $37.20. Approximately 39,478,755 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 83,928,938 shares. The stock had previously closed at $40.54.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays cut their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, Wedbush restated a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Price Performance

The firm has a fifty day moving average of $36.89 and a two-hundred day moving average of $56.23. The stock has a market capitalization of $20.39 billion, a P/E ratio of 18.10 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently bought and sold shares of the business. Farmers & Merchants Investments Inc. grew its holdings in Super Micro Computer by 400.0% in 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 during the last quarter. Moser Wealth Advisors LLC purchased a new stake in Super Micro Computer in the second quarter valued at about $25,000. Hazlett Burt & Watson Inc. raised its position in shares of Super Micro Computer by 141.2% in 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 during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Super Micro Computer in the 2nd quarter worth approximately $42,000. Finally, Resources Management Corp CT ADV grew its position in Super Micro Computer by 100.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after purchasing an additional 30 shares during the last quarter. 84.06% of the stock is 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.