Super Micro Computer (NASDAQ:SMCI) Trading Down 9.9% – Should You Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price dropped 9.9% on Tuesday . The stock traded as low as $34.03 and last traded at $34.62. Approximately 48,581,993 shares traded hands during trading, a decline of 41% from the average daily volume of 82,609,328 shares. The stock had previously closed at $38.41.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Mizuho started coverage on Super Micro Computer in a report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. Wedbush restated a “neutral” rating and set a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Cfra reiterated a “hold” rating and issued a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price objective on shares of Super Micro Computer in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Down 8.2 %

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’s 50-day moving average is $38.08 and its 200-day moving average is $60.35. The stock has a market cap of $19.73 billion, a P/E ratio of 17.38 and a beta of 1.28.

Institutional Trading of Super Micro Computer

A number of institutional investors have recently bought and sold shares of SMCI. Invst LLC lifted its holdings in Super Micro Computer by 4.3% in the 1st quarter. Invst LLC now owns 337 shares of the company’s stock worth $350,000 after purchasing an additional 14 shares during the last quarter. Byrne Asset Management LLC raised its stake in Super Micro Computer by 10.4% during the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after acquiring an additional 14 shares in the last quarter. Versant Capital Management Inc grew its stake in Super Micro Computer by 30.0% during the second quarter. Versant Capital Management Inc now owns 65 shares of the company’s stock worth $53,000 after buying an additional 15 shares during the last quarter. Fielder Capital Group LLC raised its position in Super Micro Computer by 2.8% in the 2nd quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock valued at $475,000 after purchasing an additional 16 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in shares of Super Micro Computer by 5.0% during the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock valued at $311,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds 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.