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

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 2.4% during trading on Monday . The stock traded as low as $40.16 and last traded at $41.15. Approximately 30,759,297 shares changed hands during trading, a decline of 59% from the average daily volume of 74,850,320 shares. The stock had previously closed at $42.15.

Analyst Ratings Changes

SMCI has been the subject of a number of research reports. Northland Securities set a $70.00 target price on Super Micro Computer in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $40.00 to $32.00 in a research note on Monday. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upgraded shares of Super Micro Computer from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $45.00 in a research report on Friday. Finally, StockNews.com raised Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $53.00.

Super Micro Computer Price Performance

The company’s 50 day simple moving average is $38.66 and its 200 day simple moving average is $37.84. The stock has a market cap of $24.49 billion, a P/E ratio of 20.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Insider Buying and Selling at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP George Kao sold 71,720 shares of the 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 transaction, the senior vice president now owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,473 shares of company stock valued at $6,771,552. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $390,572,000 after purchasing an additional 11,580,677 shares in the last quarter. FMR LLC acquired a new position in Super Micro Computer during the fourth quarter worth $292,869,000. Invesco Ltd. boosted its holdings in Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after purchasing an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after buying an additional 4,605,260 shares during the last quarter. 84.06% of the stock is 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.