Super Micro Computer (NASDAQ:SMCI) Trading Down 12.8% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 12.8% during trading on Tuesday . The stock traded as low as $46.29 and last traded at $45.00. Approximately 43,191,351 shares changed hands during trading, a decline of 39% from the average daily volume of 71,326,367 shares. The stock had previously closed at $51.61.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SMCI shares. Northland Securities restated an “outperform” rating and issued a $57.00 price target (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Wedbush reaffirmed a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Finally, Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.73.

Super Micro Computer Stock Performance

The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 23.67 and a beta of 1.30. 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 stock’s 50-day moving average is $35.59 and its 200-day moving average is $39.69.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. boosted its holdings in Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after acquiring an additional 61,071 shares during the period. Assetmark Inc. lifted its position in shares of Super Micro Computer by 164.8% during the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock worth $62,599,000 after purchasing an additional 93,569 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in Super Micro Computer during the 4th quarter valued at $635,000. Nepsis Inc. purchased a new stake in Super Micro Computer during the 4th quarter worth $13,625,000. Finally, Sanctuary Advisors LLC lifted its holdings in Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after buying an additional 21,997 shares in the last quarter. Hedge funds and other 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.