Super Micro Computer (NASDAQ:SMCI) Trading Down 4% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price traded down 4% during mid-day trading on Tuesday . The company traded as low as $39.80 and last traded at $40.93. 46,471,351 shares traded hands during trading, an increase of 10% from the average session volume of 42,197,535 shares. The stock had previously closed at $42.65.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wedbush restated a “neutral” rating and set a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. The Goldman Sachs Group cut their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Super Micro Computer has a consensus rating of “Hold” and a consensus price target of $63.07.

Super Micro Computer Stock Performance

The company has a market capitalization of $23.04 billion, a price-to-earnings ratio of 19.77 and a beta of 1.30. The stock’s 50 day moving average price is $33.56 and its 200 day moving average price is $40.74. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. acquired a new position in Super Micro Computer during the fourth quarter worth $30,000. Trust Co. of Vermont increased its holdings in shares of Super Micro Computer by 900.0% in the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock valued at $30,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in shares of Super Micro Computer in the fourth quarter valued at $31,000. 84.06% of the stock is currently owned by institutional investors.

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.