Super Micro Computer (NASDAQ:SMCI) Trading Down 1.7% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price dropped 1.7% during mid-day trading on Wednesday . The company traded as low as $31.71 and last traded at $32.93. Approximately 13,440,263 shares traded hands during trading, a decline of 82% from the average daily volume of 73,233,365 shares. The stock had previously closed at $33.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SMCI shares. Cfra upgraded 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. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Northland Securities set a $70.00 price objective on Super Micro Computer in a report on Thursday, March 6th. StockNews.com upgraded Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut Super Micro Computer from a “neutral” rating to a “sell” rating and lowered their price target for the company from $40.00 to $32.00 in a research note on Monday, March 24th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.57.

Super Micro Computer Stock Performance

The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of 15.81 and a beta of 1.22. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average is $39.87 and its 200-day moving average is $36.64.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at $981,785.52. The trade was a 78.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the sale, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,473 shares of company stock worth $6,771,552. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. Vanguard Group Inc. grew its stake in Super Micro Computer by 908.4% in the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares during the period. Geode Capital Management LLC increased its stake in Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after purchasing an additional 11,580,677 shares in the last quarter. FMR LLC acquired a new position in Super Micro Computer during the fourth quarter worth $292,869,000. Invesco Ltd. grew its holdings in shares of Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after buying an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after purchasing an additional 4,605,260 shares during the last quarter. 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.