Super Micro Computer (NASDAQ:SMCI) Stock Price Down 0.1% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded down 0.1% on Wednesday . The company traded as low as $27.61 and last traded at $28.16. 10,185,811 shares changed hands during trading, a decline of 69% from the average session volume of 32,412,988 shares. The stock had previously closed at $28.18.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Barclays decreased their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.89.

Super Micro Computer Stock Performance

The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 14.10 and a beta of 1.31. 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 firm has a 50-day moving average of $33.97 and a 200-day moving average of $43.93.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Anchor Investment Management LLC raised its position in shares of Super Micro Computer by 13.7% in the second quarter. Anchor Investment Management LLC now owns 324 shares of the company’s stock worth $265,000 after acquiring an additional 39 shares during the period. Sunbelt Securities Inc. increased its stake in shares of Super Micro Computer by 4.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,010 shares of the company’s stock valued at $1,647,000 after purchasing an additional 88 shares in the last quarter. Quarry LP raised its holdings in Super Micro Computer by 5,850.0% in the 2nd quarter. Quarry LP now owns 119 shares of the company’s stock worth $98,000 after purchasing an additional 117 shares during the period. Invst LLC boosted its position in Super Micro Computer by 36.5% during the second quarter. Invst LLC now owns 460 shares of the company’s stock worth $374,000 after purchasing an additional 123 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Super Micro Computer in the third quarter valued at approximately $87,000. 84.06% of the stock is 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.