Super Micro Computer (NASDAQ:SMCI) Trading Down 6.7% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded down 6.7% during trading on Monday . The stock traded as low as $31.20 and last traded at $33.99. 45,108,012 shares changed hands during trading, a decline of 46% from the average session volume of 83,670,367 shares. The stock had previously closed at $36.45.

Analyst Ratings Changes

SMCI has been the subject of a number of research reports. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Needham & Company LLC started coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective for the company. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price target on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a report on Wednesday, August 28th. Finally, Mizuho initiated coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Price Performance

The firm’s 50 day simple moving average is $36.79 and its two-hundred day simple moving average is $55.65. 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 market capitalization of $18.70 billion, a P/E ratio of 17.06 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Super Micro Computer by 4.3% in the third quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after buying an additional 88,692 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Super Micro Computer by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after purchasing an additional 16,007 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Super Micro Computer by 3.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after purchasing an additional 31,064 shares during the period. International Assets Investment Management LLC raised its holdings in Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Super Micro Computer by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after buying an additional 2,011 shares during the period. 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.