Super Micro Computer (NASDAQ:SMCI) Shares Down 2.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares fell 2.6% during trading on Tuesday . The stock traded as low as $34.40 and last traded at $35.50. 15,861,903 shares changed hands during trading, a decline of 51% from the average session volume of 32,230,490 shares. The stock had previously closed at $36.45.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SMCI shares. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Mizuho started coverage on Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Needham & Company LLC began coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Down 5.1 %

The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31. The business has a 50 day moving average of $31.82 and a 200 day moving average of $49.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Trading of Super Micro Computer

Several institutional investors have recently made changes to their positions in SMCI. Kathmere Capital Management LLC lifted its stake in Super Micro Computer by 5.0% during the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after purchasing an additional 18 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in Super Micro Computer by 7.0% in the second quarter. Mount Yale Investment Advisors LLC now owns 428 shares of the company’s stock valued at $351,000 after acquiring an additional 28 shares during the period. Total Clarity Wealth Management Inc. grew its position in Super Micro Computer by 3.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 903 shares of the company’s stock valued at $740,000 after acquiring an additional 29 shares during the period. Finally, Steel Grove Capital Advisors LLC lifted its holdings in shares of Super Micro Computer by 3.9% during the second quarter. Steel Grove Capital Advisors LLC now owns 790 shares of the company’s stock valued at $647,000 after acquiring an additional 30 shares during the period. 84.06% of the stock is currently 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.