Super Micro Computer (NASDAQ:SMCI) Stock Price Down 6.9% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price fell 6.9% during trading on Monday . The company traded as low as $31.11 and last traded at $32.64. 60,119,948 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 82,671,070 shares. The stock had previously closed at $35.07.

Analysts Set New Price Targets

SMCI has been the subject of several research analyst reports. Loop Capital lowered their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a report on Wednesday, August 7th. Barclays decreased their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group decreased their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The company has a fifty day moving average price of $37.30 and a two-hundred day moving average price of $59.06. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of 16.40 and a beta of 1.28. 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 Investors Weigh In On Super Micro Computer

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in shares of Super Micro Computer by 63,634.1% during 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 during the period. Bridgewater Associates LP raised its position in shares of Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after buying an additional 145,327 shares during the last quarter. Van ECK Associates Corp boosted its position in Super Micro Computer by 1,169.5% during the third quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock worth $56,077,000 after acquiring an additional 124,062 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock worth $108,035,000 after purchasing an additional 110,308 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Super Micro Computer by 1,730.3% during the third quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock worth $44,730,000 after purchasing an additional 101,552 shares during the last quarter. 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.