Super Micro Computer (NASDAQ:SMCI) Trading Down 7.1% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) fell 7.1% during trading on Tuesday . The stock traded as low as $39.02 and last traded at $39.02. 111,643,809 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 83,430,133 shares. The stock had previously closed at $42.00.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMCI. Cfra reissued a “hold” rating and issued a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. The Goldman Sachs Group cut their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Mizuho initiated coverage on Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Down 2.0 %

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 firm has a 50-day moving average price of $37.30 and a 200-day moving average price of $59.06. The company has a market capitalization of $23.03 billion, a price-to-earnings ratio of 19.59 and a beta of 1.29.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently bought and sold shares of the business. Byrne Asset Management LLC lifted its stake in Super Micro Computer by 10.4% during the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock valued at $132,000 after purchasing an additional 14 shares during the last quarter. Fielder Capital Group LLC raised its position in shares of Super Micro Computer by 2.8% during the second quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock worth $475,000 after purchasing an additional 16 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Super Micro Computer by 5.0% during the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock valued at $311,000 after purchasing an additional 18 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Super Micro Computer by 4.7% in the 2nd quarter. Fulton Bank N.A. now owns 425 shares of the company’s stock valued at $348,000 after purchasing an additional 19 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Super Micro Computer by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,322 shares of the company’s stock worth $3,541,000 after purchasing an additional 19 shares in the last quarter. 84.06% of the stock is 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.