Super Micro Computer (NASDAQ:SMCI) Stock Price Down 0.2% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 0.2% during mid-day trading on Thursday . The company traded as low as $37.64 and last traded at $38.23. 17,562,512 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 83,824,984 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays cut their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company dropped their price target on 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. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Wedbush restated a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Down 3.9 %

The firm has a market capitalization of $20.39 billion, a PE ratio of 18.32 and a beta of 1.29. The firm has a 50 day simple moving average of $36.79 and a 200 day simple moving average of $56.10. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors have recently modified their holdings of the business. Farmers & Merchants Investments Inc. lifted its stake in Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after acquiring an additional 24 shares during the period. Moser Wealth Advisors LLC bought a new position in Super Micro Computer during the second quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. boosted its holdings in Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after purchasing an additional 24 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in Super Micro Computer in the 2nd quarter worth approximately $42,000. Finally, Resources Management Corp CT ADV raised its stake in Super Micro Computer by 100.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock valued at $49,000 after buying an additional 30 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.