Super Micro Computer (NASDAQ:SMCI) Trading Down 6.1% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were down 6.1% on Wednesday . The company traded as low as $37.73 and last traded at $38.18. Approximately 22,703,948 shares traded hands during trading, a decline of 69% from the average daily volume of 72,974,786 shares. The stock had previously closed at $40.64.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SMCI shares. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Barclays began coverage on shares of Super Micro Computer in a research report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 price target for the company. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Finally, Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, February 11th. Three investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.00.

Super Micro Computer Stock Down 7.1 %

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 business has a 50-day moving average of $39.07 and a 200-day moving average of $37.83. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 18.89 and a beta of 1.21.

Insider Buying and Selling

In other 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 in the last three months. 17.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its holdings in Super Micro Computer by 22.3% during the third quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock worth $1,090,000 after acquiring an additional 478 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of Super Micro Computer during the third quarter valued at approximately $270,000. Cerity Partners LLC lifted its position in Super Micro Computer by 22.5% during the third quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock worth $1,127,000 after buying an additional 497 shares during the period. Bank of Montreal Can boosted its position in shares of Super Micro Computer by 7.2% in the third quarter. Bank of Montreal Can now owns 78,374 shares of the company’s stock worth $32,897,000 after acquiring an additional 5,275 shares during the last quarter. Finally, Patton Albertson Miller Group LLC acquired a new position in shares of Super Micro Computer in the 3rd quarter valued at $2,125,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.