Super Micro Computer (NASDAQ:SMCI) Trading Down 3.4% After Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) fell 3.4% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $45.00 to $39.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Super Micro Computer traded as low as $30.44 and last traded at $30.82. 10,005,748 shares were traded during mid-day trading, a decline of 86% from the average session volume of 73,091,098 shares. The stock had previously closed at $31.89.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, February 11th. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Finally, Rosenblatt Securities began coverage on Super Micro Computer in a report on Monday, March 10th. They issued a “buy” rating and a $60.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.57.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the sale, the senior vice president now owns 19,449 shares of the company’s stock, valued at $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SMCI. QRG Capital Management Inc. boosted its holdings in Super Micro Computer by 9.8% during the 1st quarter. QRG Capital Management Inc. now owns 17,870 shares of the company’s stock valued at $612,000 after acquiring an additional 1,594 shares during the period. Sowell Financial Services LLC grew its holdings in shares of Super Micro Computer by 11.7% in the first quarter. Sowell Financial Services LLC now owns 14,775 shares of the company’s stock worth $506,000 after purchasing an additional 1,550 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Super Micro Computer by 1,408.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 84,513 shares of the company’s stock worth $2,894,000 after buying an additional 78,909 shares during the period. Southland Equity Partners LLC bought a new stake in Super Micro Computer during the 1st quarter valued at about $211,000. Finally, Griffin Asset Management Inc. grew its stake in Super Micro Computer by 16.7% in the 1st quarter. Griffin Asset Management Inc. now owns 35,665 shares of the company’s stock worth $1,221,000 after acquiring an additional 5,107 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Trading Down 1.2 %

The stock’s 50-day moving average price is $39.87 and its 200 day moving average price is $36.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a market capitalization of $18.69 billion, a PE ratio of 15.81 and a beta of 1.22.

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.