Super Micro Computer (NASDAQ:SMCI) Trading Down 5.7% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 5.7% during trading on Monday . The company traded as low as $50.26 and last traded at $52.86. 38,503,775 shares changed hands during trading, a decline of 46% from the average session volume of 70,767,844 shares. The stock had previously closed at $56.07.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SMCI shares. Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northland Securities reaffirmed an “outperform” rating and set a $57.00 price target (up from $54.00) on shares of Super Micro Computer in a research report on Wednesday, February 12th. Finally, Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.73.

Super Micro Computer Stock Performance

The firm has a market cap of $30.82 billion, a price-to-earnings ratio of 26.44 and a beta of 1.30. 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 has a 50 day moving average of $35.23 and a 200 day moving average of $39.67.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors and hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. bought a new position in Super Micro Computer during the 4th quarter worth approximately $30,000. Trust Co. of Vermont raised its holdings 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 valued at $30,000 after buying an additional 900 shares during the last quarter. Parkside Financial Bank & Trust increased its position 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 acquiring an additional 954 shares during the period. Larson Financial Group LLC raised its stake in Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after acquiring an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in Super Micro Computer in the fourth quarter worth approximately $31,000. 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.