Super Micro Computer (NASDAQ:SMCI) Shares Down 3.5%

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded down 3.5% during trading on Tuesday . The stock traded as low as $601.02 and last traded at $601.50. 2,447,169 shares were traded during trading, a decline of 70% from the average session volume of 8,240,942 shares. The stock had previously closed at $623.62.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Super Micro Computer in a research note on Friday, August 2nd. Needham & Company LLC began coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $6.00 price objective for the company. Susquehanna upped their price target on shares of Super Micro Computer from $2.85 to $3.25 and gave the stock a “negative” rating in a report on Monday, July 15th. Loop Capital cut their price target on shares of Super Micro Computer from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.50 to $5.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and a consensus price target of $7.26.

Super Micro Computer Stock Down 1.5 %

The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 2.27 and a beta of 1.24. The firm’s 50-day moving average is $14.21 and its 200 day moving average is $10.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. Super Micro Computer’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. Sell-side analysts anticipate that Super Micro Computer, Inc. will post 28.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of SMCI. Centaurus Financial Inc. acquired a new stake in Super Micro Computer in the second quarter worth $1,105,000. Anchor Investment Management LLC boosted its stake in shares of Super Micro Computer by 13.7% in the second quarter. Anchor Investment Management LLC now owns 324 shares of the company’s stock valued at $265,000 after buying an additional 39 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Super Micro Computer by 10,050.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 406 shares of the company’s stock worth $333,000 after buying an additional 402 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Super Micro Computer in the second quarter valued at approximately $7,405,000. Finally, New Century Financial Group LLC bought a new position in Super Micro Computer during the 2nd quarter worth approximately $344,000. Institutional investors and hedge funds 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.