Super Micro Computer (NASDAQ:SMCI) Trading Down 7.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) was down 7.6% during trading on Friday . The stock traded as low as $31.11 and last traded at $32.42. Approximately 40,778,875 shares changed hands during trading, a decline of 51% from the average daily volume of 82,557,609 shares. The stock had previously closed at $35.07.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SMCI shares. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Barclays reduced their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their target price 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. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Price Performance

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 capitalization of $18.14 billion, a PE ratio of 16.28 and a beta of 1.28. The business has a fifty day moving average price of $37.70 and a 200-day moving average price of $59.71.

Institutional Trading of Super Micro Computer

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Super Micro Computer by 4.3% in the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after acquiring an additional 88,692 shares during the last quarter. Geode Capital Management LLC lifted its stake in Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock worth $529,753,000 after purchasing an additional 16,007 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Super Micro Computer by 3.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after purchasing an additional 31,064 shares during the last quarter. International Assets Investment Management LLC boosted its position in Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after buying an additional 915,058 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Super Micro Computer by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after buying an additional 2,011 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.