Super Micro Computer (NASDAQ:SMCI) Trading Down 3.3% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 3.3% during trading on Thursday . The company traded as low as $30.82 and last traded at $31.17. 17,963,862 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 83,230,063 shares. The stock had previously closed at $32.23.

Analyst Ratings Changes

A number of analysts recently weighed in on SMCI shares. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Barclays reduced their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Wedbush restated a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The stock’s 50-day moving average price is $35.34 and its 200 day moving average price is $54.30. The firm has a market cap of $17.67 billion, a P/E ratio of 15.86 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

A number of large investors have recently modified their holdings of SMCI. Retirement Systems of Alabama grew its stake in Super Micro Computer by 2.3% in 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 position in shares of Super Micro Computer in the third quarter valued at $443,000. Tidal Investments LLC grew its stake in shares of Super Micro Computer by 143.8% in the third 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 in the last quarter. World Investment Advisors LLC raised its position in Super Micro Computer by 13,210.5% during the third quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock worth $23,722,000 after acquiring an additional 56,541 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after acquiring an additional 21,997 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.