Super Micro Computer (NASDAQ:SMCI) Shares Down 4.2% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 4.2% on Tuesday . The company traded as low as $38.85 and last traded at $40.20. Approximately 17,832,133 shares were traded during trading, a decline of 76% from the average daily volume of 73,544,016 shares. The stock had previously closed at $41.94.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMCI. Barclays started coverage on shares of Super Micro Computer in a report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. StockNews.com upgraded Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. Rosenblatt Securities began coverage on shares of Super Micro Computer in a research note on Monday, March 10th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and an average price target of $52.57.

Super Micro Computer Stock Down 2.8 %

The firm’s fifty day simple moving average is $38.12 and its 200 day simple moving average is $37.96. 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 company has a market cap of $24.20 billion, a price-to-earnings ratio of 20.35 and a beta of 1.21.

Insider Transactions at Super Micro Computer

In related news, CEO Charles Liang sold 46,293 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George Kao sold 71,720 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,473 shares of company stock valued at $6,771,552. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

A number of large investors have recently bought and sold shares of the business. Retirement Systems of Alabama grew its holdings in shares of Super Micro Computer by 2.3% during the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after buying an additional 258 shares during the last quarter. Wahed Invest LLC lifted its holdings in shares of Super Micro Computer by 2.9% during the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after purchasing an additional 352 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Super Micro Computer by 22.3% during the third quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock worth $1,090,000 after acquiring an additional 478 shares during the period. Shelton Capital Management lifted its position 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 purchasing an additional 480 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Super Micro Computer by 22.5% in the 3rd quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock valued at $1,127,000 after purchasing an additional 497 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.