Super Micro Computer (NASDAQ:SMCI) Shares Down 5.7% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price fell 5.7% during trading on Monday . The stock traded as low as $50.26 and last traded at $52.86. 38,503,775 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 70,767,844 shares. The stock had previously closed at $56.07.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $57.00 target price (up previously from $54.00) on shares of Super Micro Computer in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, February 11th. Finally, Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.73.

Super Micro Computer Stock Down 6.1 %

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 company has a market cap of $30.82 billion, a PE ratio of 26.44 and a beta of 1.30. The firm’s fifty day simple moving average is $35.23 and its 200-day simple moving average is $39.67.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently bought and sold shares of SMCI. Louisiana State Employees Retirement System raised its stake in Super Micro Computer by 160.7% in the 3rd quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the company’s stock valued at $3,040,000 after purchasing an additional 4,500 shares during the last quarter. Parcion Private Wealth LLC acquired a new position in shares of Super Micro Computer in the third quarter valued at approximately $311,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Super Micro Computer by 183.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,233 shares of the company’s stock valued at $5,554,000 after buying an additional 8,572 shares during the period. Arkadios Wealth Advisors acquired a new stake in Super Micro Computer during the third quarter worth approximately $289,000. Finally, PFG Investments LLC grew its stake in Super Micro Computer by 73.8% in the 3rd quarter. PFG Investments LLC now owns 2,125 shares of the company’s stock worth $885,000 after acquiring an additional 902 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.