Super Micro Computer (NASDAQ:SMCI) Trading Down 7.4% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 7.4% during trading on Thursday . The stock traded as low as $17.36 and last traded at $18.83. Approximately 48,020,879 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 80,410,328 shares. The stock had previously closed at $20.33.

Wall Street Analysts Forecast Growth

SMCI has been the subject of several research reports. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research note on Wednesday, August 7th. Loop Capital reduced their price target on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Needham & Company LLC began coverage on Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Performance

The company has a market cap of $10.40 billion, a P/E ratio of 9.45 and a beta of 1.28. 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 stock has a 50 day moving average price of $40.61 and a two-hundred day moving average price of $63.43.

Institutional Investors Weigh In On Super Micro Computer

Large investors have recently added to or reduced their stakes in the stock. Providence Wealth Advisors LLC raised its position in Super Micro Computer by 900.0% during the 3rd quarter. Providence Wealth Advisors LLC now owns 6,810 shares of the company’s stock worth $2,836,000 after purchasing an additional 6,129 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Super Micro Computer by 18.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,315 shares of the company’s stock worth $6,377,000 after acquiring an additional 2,403 shares in the last quarter. De Lisle Partners LLP acquired a new stake in shares of Super Micro Computer in the 3rd quarter valued at about $1,249,000. Blueshift Asset Management LLC grew its stake in shares of Super Micro Computer by 363.5% in the 3rd quarter. Blueshift Asset Management LLC now owns 2,109 shares of the company’s stock valued at $878,000 after buying an additional 1,654 shares during the period. Finally, Bridgewater Associates LP grew its stake in shares of Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after buying an additional 145,327 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.