Super Micro Computer (NASDAQ:SMCI) Trading Down 1.4% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 1.4% during trading on Thursday . The company traded as low as $39.54 and last traded at $39.53. Approximately 14,722,727 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 73,111,528 shares. The stock had previously closed at $40.10.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SMCI. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group raised their price objective on Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, February 24th. JPMorgan Chase & Co. raised Super Micro Computer from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $45.00 in a research report on Friday. Rosenblatt Securities assumed coverage on Super Micro Computer in a research report on Monday, March 10th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Wedbush reissued a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and a consensus target price of $53.29.

Super Micro Computer Stock Up 7.8 %

The company has a market cap of $25.02 billion, a price-to-earnings ratio of 21.16 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a 50-day moving average price of $38.66 and a 200 day moving average price of $37.92.

Insider Activity at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP George Kao sold 71,720 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the transaction, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock worth $6,771,552 in the last ninety days. 17.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in SMCI. Retirement Systems of Alabama raised its holdings in Super Micro Computer by 2.3% in the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after acquiring an additional 258 shares in the last quarter. Wahed Invest LLC increased its position in shares of Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after purchasing an additional 352 shares during the period. Advisors Asset Management Inc. raised its stake in Super Micro Computer by 22.3% in the third quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock valued at $1,090,000 after purchasing an additional 478 shares in the last quarter. Shelton Capital Management lifted its position in Super Micro Computer by 6.5% during the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock worth $240,000 after purchasing an additional 480 shares during the period. Finally, Cerity Partners LLC grew its stake in Super Micro Computer by 22.5% during the third quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock worth $1,127,000 after buying an additional 497 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.