Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price dropped 2% during trading on Monday . The company traded as low as $40.90 and last traded at $41.33. Approximately 17,517,444 shares changed hands during trading, a decline of 77% from the average daily volume of 76,775,695 shares. The stock had previously closed at $42.17.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several recent analyst reports. Barclays assumed coverage on Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 target price on the stock. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, February 11th. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group boosted their price target on Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.57.

Super Micro Computer Stock Down 9.6 %

The company has a market capitalization of $22.49 billion, a P/E ratio of 19.03 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 firm’s fifty day moving average is $38.19 and its 200-day moving average is $37.91.

Insider Transactions at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Liang sold 46,293 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently bought and sold shares of the business. Retirement Systems of Alabama raised its stake in shares of Super Micro Computer by 2.3% in the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after purchasing an additional 258 shares during the last quarter. Wahed Invest LLC lifted its holdings in Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock valued at $377,000 after acquiring an additional 352 shares during the period. Advisors Asset Management Inc. lifted its holdings in Super Micro Computer by 22.3% in the third quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock valued at $1,090,000 after acquiring an additional 478 shares during the period. Shelton Capital Management lifted its holdings in Super Micro Computer by 6.5% in the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock valued at $240,000 after acquiring an additional 480 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Super Micro Computer by 22.5% in the third quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock valued at $1,127,000 after acquiring an additional 497 shares during the period. Hedge funds and other 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.