Super Micro Computer (NASDAQ:SMCI) Trading Down 2.4% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was down 2.4% on Monday . The company traded as low as $40.16 and last traded at $41.15. Approximately 30,759,297 shares were traded during trading, a decline of 59% from the average daily volume of 74,850,320 shares. The stock had previously closed at $42.15.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Monday. Northland Securities set a $70.00 price target on Super Micro Computer in a research note on Thursday, March 6th. JPMorgan Chase & Co. upgraded Super Micro Computer from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $45.00 in a research report on Friday, March 21st. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, February 11th. Finally, Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Three 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, Super Micro Computer presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Super Micro Computer Stock Performance

The firm has a market capitalization of $24.12 billion, a P/E ratio of 20.40 and a beta of 1.21. The company has a 50-day moving average of $39.07 and a 200-day moving average of $37.83. 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 Transactions at Super Micro Computer

In other news, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now owns 67,403,640 shares in the company, 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 this link. Also, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock worth $6,771,552 over the last ninety days. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. purchased a new stake in shares of Super Micro Computer in the fourth quarter worth approximately $30,000. Trust Co. of Vermont raised its position in Super Micro Computer by 900.0% in the 4th 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 lifted 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 valued at $30,000 after acquiring an additional 954 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after acquiring an additional 893 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in shares of Super Micro Computer in the 4th quarter worth $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.