Super Micro Computer (NASDAQ:SMCI) Shares Down 6.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares fell 6.2% during trading on Monday . The stock traded as low as $29.18 and last traded at $29.57. 12,445,763 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 67,811,992 shares. The stock had previously closed at $31.51.

Analyst Ratings Changes

Several research analysts have commented on SMCI shares. JPMorgan Chase & Co. dropped their price objective on shares of Super Micro Computer from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $40.00 to $32.00 in a report on Monday, March 24th. 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 note on Tuesday, February 11th. Barclays assumed coverage on Super Micro Computer in a report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 price objective on the stock. Finally, Rosenblatt Securities initiated coverage on Super Micro Computer in a report on Monday, March 10th. They issued a “buy” rating and a $60.00 target price for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.57.

Super Micro Computer Trading Down 7.4 %

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 has a 50 day simple moving average of $39.73 and a two-hundred day simple moving average of $36.50. The firm has a market cap of $17.32 billion, a PE ratio of 14.65 and a beta of 1.22.

Insider Activity at Super Micro Computer

In other news, SVP George Kao sold 71,720 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock worth $6,771,552 over the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

Large investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its holdings in Super Micro Computer by 2,890.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock valued at $30,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Super Micro Computer during the fourth quarter worth $30,000. Trust Co. of Vermont increased its stake in shares of Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 900 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Super Micro Computer during the first quarter worth $34,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.