Super Micro Computer (NASDAQ:SMCI) Trading Down 2.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were down 2.6% on Tuesday . The stock traded as low as $34.40 and last traded at $35.50. Approximately 15,861,903 shares changed hands during trading, a decline of 51% from the average daily volume of 32,230,490 shares. The stock had previously closed at $36.45.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMCI. Loop Capital dropped their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Needham & Company LLC initiated coverage on Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. downgraded 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 note on Wednesday, November 6th. Finally, Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on 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 Down 3.7 %

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 50 day simple moving average of $32.13 and a two-hundred day simple moving average of $50.08. The firm has a market capitalization of $19.64 billion, a P/E ratio of 17.63 and a beta of 1.31.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds have recently made changes to their positions in SMCI. Rise Advisors LLC increased its stake in Super Micro Computer by 909.5% in the 4th quarter. Rise Advisors LLC now owns 1,696 shares of the company’s stock worth $52,000 after acquiring an additional 1,528 shares during the last quarter. Kings Path Partners LLC grew its holdings in shares of Super Micro Computer by 976.9% in the fourth quarter. Kings Path Partners LLC now owns 14,000 shares of the company’s stock valued at $427,000 after purchasing an additional 12,700 shares in the last quarter. Everence Capital Management Inc. increased its position in Super Micro Computer by 1,366.0% in the fourth quarter. Everence Capital Management Inc. now owns 15,540 shares of the company’s stock worth $474,000 after purchasing an additional 14,480 shares during the last quarter. GAMMA Investing LLC raised its stake in Super Micro Computer by 1,160.6% during the fourth quarter. GAMMA Investing LLC now owns 6,341 shares of the company’s stock valued at $193,000 after purchasing an additional 5,838 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in Super Micro Computer by 2.3% during the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other 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.