Super Micro Computer (NASDAQ:SMCI) Stock Price Down 0.9% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price fell 0.9% on Monday . The stock traded as low as $32.14 and last traded at $33.96. 18,397,752 shares were traded during mid-day trading, a decline of 75% from the average session volume of 73,342,916 shares. The stock had previously closed at $34.26.

Wall Street Analyst Weigh In

SMCI has been the topic of a number of recent research reports. Wedbush restated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, February 11th. Rosenblatt Securities assumed coverage on Super Micro Computer in a research report on Monday, March 10th. They set a “buy” rating and a $60.00 price objective on the stock. Barclays began coverage on Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 target price for the company. Finally, StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Super Micro Computer has a consensus rating of “Hold” and an average target price of $53.00.

Super Micro Computer Price Performance

The company has a fifty day moving average of $39.45 and a 200-day moving average of $37.58. 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 stock has a market cap of $20.80 billion, a PE ratio of 17.60 and a beta of 1.21.

Insiders Place Their Bets

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total value of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 over the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Several hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its position in shares of Super Micro Computer by 2.3% in the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares during the last quarter. Wahed Invest LLC increased its holdings in Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock valued at $377,000 after buying an additional 352 shares during the last quarter. Shelton Capital Management raised its stake in Super Micro Computer by 6.5% in the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock valued at $240,000 after buying an additional 480 shares in the last quarter. Cerity Partners LLC lifted its holdings in Super Micro Computer by 22.5% during the 3rd quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock worth $1,127,000 after buying an additional 497 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in shares of Super Micro Computer by 66.5% during the 3rd quarter. Townsquare Capital LLC now owns 1,307 shares of the company’s stock worth $544,000 after acquiring an additional 522 shares in the last quarter. Institutional investors and hedge funds 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.