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

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

Analyst Upgrades and Downgrades

SMCI has been the subject of a number of recent analyst reports. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday. Wedbush restated a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price target on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Three investment 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 currently has an average rating of “Hold” and a consensus price target of $60.73.

Super Micro Computer Stock Performance

The business’s fifty day moving average is $35.82 and its two-hundred day moving average is $39.65. The stock has a market capitalization of $29.93 billion, a PE ratio of 25.66 and a beta of 1.30. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

Several large investors have recently bought and sold shares of the business. Emerald Mutual Fund Advisers Trust bought a new stake in Super Micro Computer in the third quarter worth $87,000. Retirement Systems of Alabama increased its position in 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. TrueWealth Advisors LLC increased its position in Super Micro Computer by 99.0% in the third quarter. TrueWealth Advisors LLC now owns 593 shares of the company’s stock worth $247,000 after purchasing an additional 295 shares during the last quarter. Wahed Invest LLC increased its position in Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after purchasing an additional 352 shares during the last quarter. Finally, Miller Wealth Advisors LLC bought a new stake in Super Micro Computer in the third quarter worth $152,000. Institutional investors own 84.06% of the company’s stock.

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.