Super Micro Computer (NASDAQ:SMCI) Trading Down 4.6% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was down 4.6% on Wednesday . The company traded as low as $32.29 and last traded at $32.79. Approximately 11,052,825 shares were traded during trading, a decline of 65% from the average daily volume of 31,813,594 shares. The stock had previously closed at $34.38.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SMCI. Needham & Company LLC assumed coverage on Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective on the stock. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Mizuho initiated coverage on Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. Wedbush reiterated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Down 5.6 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $31.83 and its 200 day moving average price is $49.67. The stock has a market cap of $18.14 billion, a PE ratio of 16.29 and a beta of 1.31.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently added to or reduced their stakes in SMCI. Kathmere Capital Management LLC lifted its stake in shares of Super Micro Computer by 5.0% during the 2nd quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock valued at $311,000 after buying an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after acquiring an additional 24 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Super Micro Computer by 7.0% in the second quarter. Mount Yale Investment Advisors LLC now owns 428 shares of the company’s stock worth $351,000 after acquiring an additional 28 shares during the period. Total Clarity Wealth Management Inc. grew its position in shares of Super Micro Computer by 3.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 903 shares of the company’s stock worth $740,000 after purchasing an additional 29 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC raised its stake in Super Micro Computer by 3.9% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 790 shares of the company’s stock valued at $647,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors 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.