Super Micro Computer (NASDAQ:SMCI) Trading Down 9.3% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shares fell 9.3% during trading on Friday . The company traded as low as $28.14 and last traded at $29.31. 19,465,381 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 73,127,365 shares. The stock had previously closed at $32.32.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SMCI. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a research report on Thursday, March 6th. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Barclays started coverage on Super Micro Computer in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price target on the stock. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group downgraded 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 report on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Super Micro Computer Trading Down 7.7 %

The stock’s fifty day simple moving average is $39.39 and its 200 day simple moving average is $37.37. 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 firm has a market capitalization of $17.70 billion, a PE ratio of 14.97 and a beta of 1.22.

Insider Activity

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at $981,785.52. This trade represents a 78.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Liang sold 46,293 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total value of $2,322,519.81. Following the transaction, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at approximately $3,381,640,618.80. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock valued at $6,771,552 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. bought a new stake in shares of Super Micro Computer in the 4th quarter worth about $30,000. Trust Co. of Vermont raised its stake in 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 buying an additional 900 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Super Micro Computer by 2,890.9% in the 4th 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 lifted its stake in shares of Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares during the period. Finally, Toth Financial Advisory Corp purchased a new stake in shares of Super Micro Computer during the fourth quarter valued at $31,000. Institutional investors 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.