Super Micro Computer (NASDAQ:SMCI) Stock Price Down 0.7% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) fell 0.7% on Wednesday . The stock traded as low as $29.95 and last traded at $30.48. 26,425,096 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 82,106,219 shares. The stock had previously closed at $30.68.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group cut their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Needham & Company LLC started coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Barclays decreased their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Down 1.4 %

The stock has a fifty day moving average price of $32.96 and a two-hundred day moving average price of $51.29. The company has a market cap of $16.81 billion, a P/E ratio of 15.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama lifted its position in shares of Super Micro Computer by 2.3% during the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares in the last quarter. Synovus Financial Corp bought a new stake in Super Micro Computer in the 3rd quarter worth about $443,000. Tidal Investments LLC increased its stake in Super Micro Computer by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after buying an additional 29,697 shares during the last quarter. World Investment Advisors LLC lifted its position in shares of Super Micro Computer by 13,210.5% during the 3rd quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock worth $23,722,000 after buying an additional 56,541 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after buying an additional 21,997 shares during the last quarter. 84.06% of the stock is 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.