Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2.4% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 2.4% during trading on Thursday . The stock traded as low as $35.66 and last traded at $37.96. Approximately 31,458,495 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 77,831,883 shares. The stock had previously closed at $38.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SMCI shares. JPMorgan Chase & Co. lifted their price objective on shares of Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, February 11th. The Goldman Sachs Group raised their target price on Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.87.

Super Micro Computer Trading Down 6.5 %

The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 18.23 and a beta of 1.21. The company has a fifty day moving average price of $36.89 and a 200-day moving average price of $38.97. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In related news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the transaction, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,473 shares of company stock worth $6,771,552. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SMCI. Salem Investment Counselors Inc. acquired a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $30,000. Trust Co. of Vermont boosted its stake in Super Micro Computer by 900.0% during the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after buying an additional 954 shares in the last quarter. Larson Financial Group LLC boosted its position in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after acquiring an additional 893 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in Super Micro Computer during the 4th quarter valued at about $31,000. 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.