Super Micro Computer (NASDAQ:SMCI) Shares Down 6.1% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 6.1% during trading on Wednesday . The company traded as low as $37.73 and last traded at $38.18. 22,703,948 shares were traded during trading, a decline of 69% from the average session volume of 72,974,786 shares. The stock had previously closed at $40.64.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SMCI. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $40.00 to $32.00 in a research report on Monday. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, February 11th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Wedbush reaffirmed a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.00.

Super Micro Computer Trading Up 1.7 %

The business has a 50 day moving average price of $39.27 and a 200 day moving average price of $37.79. The company has a market capitalization of $20.96 billion, a P/E ratio of 17.91 and a beta of 1.21. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the transaction, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new position in shares of Super Micro Computer during the third quarter worth approximately $383,000. Parkside Financial Bank & Trust increased its stake in Super Micro Computer by 2,890.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after acquiring an additional 954 shares during the period. Larson Financial Group LLC raised its holdings in Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after acquiring an additional 893 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Super Micro Computer during the 4th quarter valued at $30,000. Finally, Trust Co. of Vermont increased its position 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 worth $30,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.