Super Micro Computer (NASDAQ:SMCI) Trading Down 15.3% on Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares fell 15.3% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $59.00 to $34.00. Barclays currently has an equal weight rating on the stock. Super Micro Computer traded as low as $28.78 and last traded at $30.48. 49,626,979 shares were traded during mid-day trading, a decline of 31% from the average session volume of 72,012,455 shares. The stock had previously closed at $36.00.

Several other equities analysts also recently weighed in on the company. Wedbush restated a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Mizuho reduced their price target on Super Micro Computer from $50.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com upgraded Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Northland Securities set a $70.00 price target on Super Micro Computer in a report on Thursday, March 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $55.00 price target on shares of Super Micro Computer in a report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Super Micro Computer presently has an average rating of “Hold” and an average target price of $48.73.

Insiders Place Their Bets

In other news, 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 value of $3,620,425.60. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,473 shares of company stock valued at $6,771,552. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in Super Micro Computer by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company’s stock valued at $854,000 after purchasing an additional 302 shares during the last quarter. Wahed Invest LLC lifted its holdings in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after acquiring an additional 352 shares during the last quarter. Shelton Capital Management lifted its holdings in shares of Super Micro Computer by 6.5% in the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock worth $240,000 after acquiring an additional 480 shares during the last quarter. IMG Wealth Management Inc. increased its stake in Super Micro Computer by 90.7% in the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company’s stock worth $36,000 after buying an additional 500 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in Super Micro Computer by 60.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,776 shares of the company’s stock worth $61,000 after buying an additional 666 shares during the period. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Down 11.5 %

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $19.01 billion, a PE ratio of 15.99 and a beta of 1.22. The company’s 50 day moving average is $36.96 and its 200 day moving average is $35.96.

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.