Super Micro Computer (NASDAQ:SMCI) Stock Price Down 10.6% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was down 10.6% during trading on Monday . The company traded as low as $29.68 and last traded at $29.74. Approximately 23,247,550 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 31,142,434 shares. The stock had previously closed at $33.27.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SMCI. Loop Capital upped their price objective on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Barclays dropped their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.89.

Super Micro Computer Stock Performance

The company has a market capitalization of $15.55 billion, a P/E ratio of 13.96 and a beta of 1.31. 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’s 50-day moving average is $33.97 and its two-hundred day moving average is $43.93.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently made changes to their positions in SMCI. Salem Investment Counselors Inc. purchased a new stake in Super Micro Computer during the fourth quarter valued at about $30,000. Trust Co. of Vermont increased its position in shares of Super Micro Computer by 900.0% during the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in Super Micro Computer in the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new stake in Super Micro Computer in the fourth quarter worth approximately $34,000. Finally, New Wave Wealth Advisors LLC bought a new position in Super Micro Computer during the fourth quarter valued at approximately $42,000. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Company Profile

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.