Super Micro Computer (NASDAQ:SMCI) Trading Down 3% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price dropped 3% during mid-day trading on Thursday . The stock traded as low as $44.51 and last traded at $45.89. Approximately 19,511,104 shares traded hands during trading, a decline of 76% from the average daily volume of 82,229,977 shares. The stock had previously closed at $47.29.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SMCI. Nomura Securities lowered Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Super Micro Computer in a report on Friday, August 2nd. Cfra restated a “hold” rating and issued a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $95.00 to $50.00 in a research note on Friday, September 6th. Finally, Needham & Company LLC assumed coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.45.

Super Micro Computer Trading Up 2.9 %

The company has a fifty day moving average of $49.04 and a two-hundred day moving average of $72.63. 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 stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 24.00 and a beta of 1.23.

Super Micro Computer (NASDAQ:SMCI) last issued 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). The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company’s revenue was up 142.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, research analysts expect that Super Micro Computer, Inc. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GQG Partners LLC acquired a new position in shares of Super Micro Computer during the 1st quarter worth $1,325,466,000. Vanguard Group Inc. raised its position in Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after acquiring an additional 1,265,542 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Super Micro Computer by 511.9% in the second quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after purchasing an additional 110,308 shares in the last quarter. Inspire Investing LLC grew its position in shares of Super Micro Computer by 1,730.3% in the third quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock valued at $44,730,000 after purchasing an additional 101,552 shares during the last quarter. Finally, Nomura Holdings Inc. grew its position in shares of Super Micro Computer by 929.3% in the fourth quarter. Nomura Holdings Inc. now owns 70,640 shares of the company’s stock valued at $20,080,000 after purchasing an additional 63,777 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.