Super Micro Computer (NASDAQ:SMCI) Trading Down 2.4% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 2.4% during mid-day trading on Monday . The stock traded as low as $40.16 and last traded at $41.15. Approximately 30,759,297 shares were traded during trading, a decline of 59% from the average daily volume of 74,850,320 shares. The stock had previously closed at $42.15.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays began coverage on Super Micro Computer in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price target for the company. Rosenblatt Securities initiated coverage on shares of Super Micro Computer in a research note on Monday, March 10th. They issued a “buy” rating and a $60.00 target price for the company. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a research report on Thursday, March 6th. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, February 11th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Super Micro Computer currently has an average rating of “Hold” and an average price target of $53.00.

Super Micro Computer Stock Down 2.1 %

The firm’s 50 day simple moving average is $38.66 and its two-hundred day simple moving average is $37.84. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 20.71 and a beta of 1.21. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock valued at $6,771,552 over the last 90 days. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new position in shares of Super Micro Computer during the 4th quarter worth $30,000. Trust Co. of Vermont raised its stake in 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 acquiring an additional 900 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after acquiring an additional 954 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Super Micro Computer by 902.0% in the 4th 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. Finally, Toth Financial Advisory Corp bought a new stake in shares of Super Micro Computer during the 4th quarter valued at approximately $31,000. 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.