Super Micro Computer (NASDAQ:SMCI) Trading Down 8.2% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded down 8.2% on Wednesday . The company traded as low as $36.07 and last traded at $37.20. 39,478,755 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 83,928,938 shares. The stock had previously closed at $40.54.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Mizuho assumed coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price for the company. Loop Capital lowered their target price on 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. Needham & Company LLC started coverage on Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group decreased their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Performance

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 stock has a market cap of $21.51 billion, a P/E ratio of 18.69 and a beta of 1.29. The stock has a fifty day simple moving average of $37.03 and a 200-day simple moving average of $56.72.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. boosted its holdings in Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after buying an additional 24 shares during the last quarter. Moser Wealth Advisors LLC bought a new position in shares of Super Micro Computer during the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Super Micro Computer by 141.2% during 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 in the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Super Micro Computer during the 2nd quarter valued at about $42,000. Finally, First PREMIER Bank lifted its holdings 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 valued at $43,000 after purchasing an additional 29 shares in the last quarter. Institutional investors 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.