Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded down 2% during mid-day trading on Monday . The stock traded as low as $40.90 and last traded at $41.33. 17,517,444 shares traded hands during trading, a decline of 77% from the average session volume of 76,775,695 shares. The stock had previously closed at $42.17.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Northland Securities set a $70.00 price objective on Super Micro Computer in a report on Thursday, March 6th. The Goldman Sachs Group boosted their price target on Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $52.57.

Super Micro Computer Stock Down 9.6 %

The firm has a market capitalization of $22.49 billion, a P/E ratio of 19.03 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The firm’s 50-day moving average is $38.19 and its 200 day moving average is $37.91.

Insider Transactions at Super Micro Computer

In related news, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction dated 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 directly owns 19,449 shares in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 in the last three months. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently added to or reduced their stakes in the stock. Clear Creek Financial Management LLC acquired a new position in shares of Super Micro Computer during the fourth quarter worth $635,000. Nepsis Inc. bought a new stake in shares of Super Micro Computer during the fourth quarter worth about $13,625,000. Sanctuary Advisors LLC increased its position in shares of Super Micro Computer by 254.7% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after acquiring an additional 21,997 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Super Micro Computer by 1,476.6% during the fourth quarter. Fifth Third Bancorp now owns 12,266 shares of the company’s stock worth $374,000 after purchasing an additional 11,488 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in Super Micro Computer by 921.1% during the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after purchasing an additional 145,327 shares during 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.