Super Micro Computer (NASDAQ:SMCI) Stock Price Down 0.6% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were down 0.6% on Thursday . The company traded as low as $32.79 and last traded at $33.66. Approximately 8,595,755 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 30,846,871 shares. The stock had previously closed at $33.86.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SMCI shares. The Goldman Sachs Group cut their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Barclays cut their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.89.

Super Micro Computer Trading Down 1.1 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of 16.85 and a beta of 1.31. The business’s fifty day moving average is $33.22 and its two-hundred day moving average is $45.58.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently modified their holdings of SMCI. Defender Capital LLC. acquired a new stake in Super Micro Computer in the 4th quarter valued at $305,000. Forsta AP Fonden bought a new stake in shares of Super Micro Computer during the 4th quarter worth about $3,368,000. Griffin Asset Management Inc. bought a new stake in shares of Super Micro Computer during the 4th quarter worth about $931,000. Foundations Investment Advisors LLC boosted its holdings in Super Micro Computer by 1,431.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 32,269 shares of the company’s stock valued at $984,000 after purchasing an additional 30,162 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Super Micro Computer by 648.6% in the 4th quarter. Pacer Advisors Inc. now owns 57,459 shares of the company’s stock valued at $1,751,000 after purchasing an additional 49,783 shares during the period. 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.