Super Micro Computer (NASDAQ:SMCI) Trading Down 3.9% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded down 3.9% during mid-day trading on Thursday . The company traded as low as $54.30 and last traded at $57.90. 73,096,542 shares were traded during mid-day trading, an increase of 8% from the average session volume of 67,475,789 shares. The stock had previously closed at $60.25.

Analyst Ratings Changes

Several brokerages have recently weighed in on SMCI. Loop Capital lifted their price objective on Super Micro Computer from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price objective 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. Northland Securities reissued an “outperform” rating and set a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have given 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 an average rating of “Hold” and a consensus target price of $60.20.

Super Micro Computer Trading Up 2.1 %

The company has a 50-day simple moving average of $34.41 and a 200-day simple moving average of $39.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market cap of $36.01 billion, a P/E ratio of 30.70 and a beta of 1.30.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently bought and sold shares of SMCI. Vanguard Group Inc. raised its position in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC increased its holdings in Super Micro Computer by 914.7% in the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the last quarter. FMR LLC bought a new stake in Super Micro Computer in the fourth quarter valued at about $292,869,000. Invesco Ltd. increased its holdings in Super Micro Computer by 929.5% in the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after purchasing an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after purchasing an additional 4,605,260 shares during the last quarter. 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.