Super Micro Computer (NASDAQ:SMCI) Shares Down 10.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) fell 10.2% during trading on Monday . The company traded as low as $21.30 and last traded at $22.03. 28,018,297 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 80,641,625 shares. The stock had previously closed at $24.52.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho started coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and cut their price target for the company from $109.00 to $70.00 in a report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and issued a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Cfra restated a “hold” rating and issued a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company has a fifty day moving average of $41.08 and a 200 day moving average of $63.89. The firm has a market capitalization of $11.37 billion, a P/E ratio of 10.37 and a beta of 1.28.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SMCI. Farmers & Merchants Investments Inc. boosted its position in shares of Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares in the last quarter. Moser Wealth Advisors LLC bought a new position in shares of Super Micro Computer in the 2nd quarter worth $25,000. Hazlett Burt & Watson Inc. grew its position in 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 purchasing an additional 24 shares during the period. AlphaCentric Advisors LLC bought a new stake in Super Micro Computer during the 2nd quarter valued at $42,000. Finally, First PREMIER Bank raised its holdings in Super Micro Computer by 126.1% during the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $43,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds 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.