Super Micro Computer (NASDAQ:SMCI) Shares Down 8.3% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price dropped 8.3% on Thursday . The stock traded as low as $31.55 and last traded at $32.18. Approximately 19,946,299 shares changed hands during trading, a decline of 73% from the average daily volume of 73,184,185 shares. The stock had previously closed at $35.09.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SMCI. StockNews.com raised shares of Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. 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 research report on Tuesday, February 11th. Wedbush reaffirmed a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Finally, Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a research report on Thursday, March 6th. Three equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.00.

Super Micro Computer Trading Down 7.9 %

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 company’s 50 day moving average is $39.48 and its 200 day moving average is $37.51. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of 16.22 and a beta of 1.21.

Insider Buying and Selling

In other news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP George Kao sold 71,720 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock valued at $6,771,552 over the last three months. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently modified their holdings of SMCI. Salem Investment Counselors Inc. acquired a new position in shares of Super Micro Computer in the 4th quarter worth approximately $30,000. Trust Co. of Vermont increased its stake in shares of Super Micro Computer by 900.0% in the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Super Micro Computer by 2,890.9% during the 4th 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 grew its holdings in Super Micro Computer by 902.0% during the 4th 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 bought a new position in shares of Super Micro Computer in the fourth quarter worth about $31,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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.