Super Micro Computer (NASDAQ:SMCI) Shares Down 2% – Here’s Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 2% on Tuesday . The stock traded as low as $27.22 and last traded at $28.50. Approximately 16,475,202 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 32,521,176 shares. The stock had previously closed at $29.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SMCI. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Loop Capital upped their target price on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Finally, Barclays lowered their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and a consensus price target of $62.89.

Super Micro Computer Price Performance

The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 14.38 and a beta of 1.31. The company’s 50 day moving average is $34.01 and its 200 day moving average is $43.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Investors Weigh In On Super Micro Computer

Several institutional investors have recently modified their holdings of SMCI. Northwestern Mutual Wealth Management Co. boosted its position in Super Micro Computer by 498.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,132 shares of the company’s stock worth $6,663,000 after purchasing an additional 6,774 shares in the last quarter. Quarry LP boosted its position in shares of Super Micro Computer by 5,850.0% in the 2nd quarter. Quarry LP now owns 119 shares of the company’s stock worth $98,000 after buying an additional 117 shares in the last quarter. Regal Investment Advisors LLC acquired a new stake in Super Micro Computer in the 2nd quarter valued at about $378,000. Granite Bay Wealth Management LLC purchased a new position in Super Micro Computer during the 2nd quarter valued at about $269,000. Finally, Cetera Investment Advisers raised its position in Super Micro Computer by 24.5% during the second quarter. Cetera Investment Advisers now owns 34,324 shares of the company’s stock worth $28,123,000 after acquiring an additional 6,749 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.