Super Micro Computer (NASDAQ:SMCI) Trading Down 3.9% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 3.9% during trading on Thursday . The company traded as low as $54.30 and last traded at $57.90. Approximately 73,096,542 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 67,475,789 shares. The stock had previously closed at $60.25.

Analysts Set New Price Targets

SMCI has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. 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 report on Tuesday, February 11th. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Finally, Loop Capital raised their price objective on shares of Super Micro Computer from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.20.

Super Micro Computer Trading Down 5.4 %

The business has a fifty day moving average of $35.23 and a 200-day moving average of $39.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a market capitalization of $32.83 billion, a P/E ratio of 28.15 and a beta of 1.30.

Hedge Funds Weigh In On Super Micro Computer

A number of large investors have recently modified their holdings of the company. Salem Investment Counselors Inc. bought a new stake in shares of Super Micro Computer during the 4th quarter worth $30,000. Trust Co. of Vermont raised its stake in shares of Super Micro Computer by 900.0% during the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Super Micro Computer by 2,890.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC raised its stake in shares of Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after purchasing an additional 893 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in shares of Super Micro Computer during the 4th quarter worth $31,000. 84.06% of the stock is currently owned by 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.