Super Micro Computer (NASDAQ:SMCI) Trading Down 5.7% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 5.7% on Monday . The company traded as low as $50.26 and last traded at $52.86. Approximately 38,503,775 shares changed hands during trading, a decline of 46% from the average daily volume of 70,767,844 shares. The stock had previously closed at $56.07.

Analyst Ratings Changes

A number of research analysts have weighed in on SMCI shares. The Goldman Sachs Group boosted their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, February 11th. Finally, Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.73.

Super Micro Computer Price Performance

The stock has a market cap of $29.93 billion, a PE ratio of 25.66 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 firm’s 50-day moving average price is $35.82 and its two-hundred day moving average price is $39.65.

Institutional Inflows and Outflows

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

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.