Super Micro Computer (NASDAQ:SMCI) Shares Down 5.4% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price traded down 5.4% during trading on Thursday . The stock traded as low as $40.58 and last traded at $40.18. 18,357,346 shares were traded during mid-day trading, a decline of 76% from the average session volume of 77,651,195 shares. The stock had previously closed at $42.47.

Wall Street Analyst Weigh In

SMCI has been the subject of a number of recent research reports. Barclays started coverage on Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 target price for the company. JPMorgan Chase & Co. upped their price target on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. Northland Securities set a $70.00 target price on shares of Super Micro Computer in a report on Thursday, March 6th. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.57.

Super Micro Computer Stock Performance

The stock has a market capitalization of $23.50 billion, a P/E ratio of 19.98 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The business’s fifty day moving average price is $37.65 and its two-hundred day moving average price is $38.18.

Insider Buying and Selling at Super Micro Computer

In other news, CEO Charles Liang sold 46,293 shares of the stock in a transaction dated Wednesday, February 26th. The stock was 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 directly owns 67,403,640 shares of the company’s stock, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now owns 19,449 shares of the company’s stock, valued at $981,785.52. The trade was a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders 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

Several institutional investors and hedge funds have recently made changes to their positions in SMCI. Vanguard Group Inc. increased its position in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Super Micro Computer by 914.7% during the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after purchasing an additional 11,580,677 shares during the period. FMR LLC acquired a new stake in Super Micro Computer in the fourth quarter valued at about $292,869,000. Invesco Ltd. grew its holdings in Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after acquiring an additional 6,810,082 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after purchasing an additional 4,605,260 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.