Super Micro Computer (NASDAQ:SMCI) Stock Price Down 5.4% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 5.4% on Tuesday . The company traded as low as $44.45 and last traded at $45.18. 55,586,164 shares were traded during mid-day trading, a decline of 33% from the average session volume of 82,379,313 shares. The stock had previously closed at $47.74.

Analysts Set New Price Targets

SMCI has been the topic of several recent research reports. Nomura Securities downgraded shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Bank of America lowered Super Micro Computer from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Needham & Company LLC started coverage on Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price for the company. Wells Fargo & Company cut their price target on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Finally, Susquehanna increased their price target on Super Micro Computer from $28.50 to $32.50 and gave the company a “negative” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.45.

Super Micro Computer Stock Down 5.7 %

The firm’s 50 day simple moving average is $8.91 and its 200-day simple moving average is $8.72. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 2.53 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company’s quarterly revenue was up 142.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, sell-side analysts anticipate that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.

Institutional Trading of Super Micro Computer

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its stake in shares of Super Micro Computer by 558.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the company’s stock worth $225,000 after purchasing an additional 670 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Super Micro Computer by 144.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,221 shares of the company’s stock worth $2,053,000 after buying an additional 4,267 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Super Micro Computer by 0.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,078 shares of the company’s stock worth $1,160,000 after purchasing an additional 18 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Super Micro Computer during the fourth quarter worth $1,679,000. Finally, Public Employees Retirement Association of Colorado grew its holdings in Super Micro Computer by 37.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 5,525 shares of the company’s stock valued at $1,571,000 after purchasing an additional 1,495 shares during the last quarter. 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.