Super Micro Computer (NASDAQ:SMCI) Shares Down 9.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) fell 9.2% during trading on Thursday . The stock traded as low as $44.18 and last traded at $46.42. 52,148,527 shares traded hands during trading, a decline of 31% from the average session volume of 75,436,344 shares. The stock had previously closed at $51.11.

Wall Street Analysts Forecast Growth

SMCI has been the subject of several recent research reports. Loop Capital restated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. The Goldman Sachs Group boosted their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Northland Securities reaffirmed an “outperform” rating and issued a $57.00 target price (up from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target 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. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.87.

Super Micro Computer Price Performance

The stock has a market cap of $25.15 billion, a PE ratio of 21.56 and a beta of 1.30. The firm’s fifty day moving average price is $36.20 and its 200 day moving average price is $39.65. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Super Micro Computer by 908.4% in the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after buying an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC increased its stake in Super Micro Computer by 914.7% in the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after acquiring an additional 11,580,677 shares during the last quarter. FMR LLC purchased a new stake in shares of Super Micro Computer during the 4th quarter worth approximately $292,869,000. Invesco Ltd. boosted its position in shares of Super Micro Computer by 929.5% during the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after acquiring an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after purchasing an additional 4,605,260 shares in the last quarter. 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.