Super Micro Computer (NASDAQ:SMCI) Stock Price Down 3.7% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 3.7% during trading on Wednesday . The stock traded as low as $20.76 and last traded at $20.90. Approximately 19,200,484 shares traded hands during trading, a decline of 76% from the average daily volume of 80,392,438 shares. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SMCI. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Mizuho initiated coverage on Super Micro Computer in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price on the stock. The Goldman Sachs Group reduced their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Needham & Company LLC initiated coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Cfra reiterated a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Super Micro Computer has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Down 11.4 %

The business has a fifty day moving average price of $40.61 and a 200-day moving average price of $63.43. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The company has a market cap of $10.07 billion, a P/E ratio of 9.04 and a beta of 1.28.

Institutional Trading of Super Micro Computer

Several large investors have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. lifted its holdings in shares of Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after acquiring an additional 24 shares during the period. Moser Wealth Advisors LLC acquired a new stake in shares of Super Micro Computer in the 2nd quarter valued at $25,000. Hazlett Burt & Watson Inc. increased its stake in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Super Micro Computer during the 2nd quarter worth $42,000. Finally, First PREMIER Bank lifted its position in shares of Super Micro Computer by 126.1% during the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $43,000 after buying an additional 29 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Super Micro Computer Company Profile

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.