Super Micro Computer (NASDAQ:SMCI) Shares Down 3.1% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was down 3.1% on Friday . The stock traded as low as $23.76 and last traded at $24.68. Approximately 31,937,678 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 80,752,273 shares. The stock had previously closed at $25.48.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMCI. Mizuho started coverage on Super Micro Computer in a report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective on the stock. Needham & Company LLC started coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target on the stock. Loop Capital reduced their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Wells Fargo & Company dropped their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Super Micro Computer in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The firm has a fifty day moving average of $41.93 and a 200 day moving average of $64.74. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 12.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. increased its position in Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the last quarter. Moser Wealth Advisors LLC purchased a new stake in shares of Super Micro Computer in the 2nd quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. grew its stake in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Super Micro Computer during the 2nd quarter worth approximately $42,000. Finally, First PREMIER Bank lifted its holdings in Super Micro Computer by 126.1% in the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after acquiring an additional 29 shares during the last quarter. 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.