Super Micro Computer (NASDAQ:SMCI) Shares Down 2.3% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price dropped 2.3% during trading on Tuesday . The stock traded as low as $25.10 and last traded at $25.42. Approximately 25,250,359 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 80,368,242 shares. The stock had previously closed at $26.03.

Analyst Upgrades and Downgrades

SMCI has been the subject of several research analyst reports. Nomura downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Wednesday, July 10th. Cfra reissued a “hold” rating and set a $45.40 price target (down from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Wedbush restated a “neutral” rating and set a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a research report on Monday. JPMorgan Chase & Co. downgraded Super Micro Computer from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $50.00 in a research report on Friday, September 6th. Finally, Susquehanna increased their target price on Super Micro Computer from $28.50 to $32.50 and gave the company a “negative” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.33.

Super Micro Computer Stock Performance

The stock has a 50 day moving average price of $43.93 and a two-hundred day moving average price of $66.15. The company has a market cap of $15.09 billion, a P/E ratio of 13.22 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.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s revenue was up 142.9% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. On average, research analysts predict that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its position in Super Micro Computer by 12.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 124,652 shares of the company’s stock worth $51,905,000 after acquiring an additional 13,936 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after purchasing an additional 61,071 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Super Micro Computer by 128.2% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,026 shares of the company’s stock worth $828,000 after purchasing an additional 1,138 shares during the period. Crossmark Global Holdings Inc. grew its stake in Super Micro Computer by 581.6% in the third quarter. Crossmark Global Holdings Inc. now owns 23,380 shares of the company’s stock valued at $9,735,000 after acquiring an additional 19,950 shares during the period. Finally, Sigma Planning Corp raised its holdings in shares of Super Micro Computer by 25.1% in the 3rd quarter. Sigma Planning Corp now owns 3,950 shares of the company’s stock worth $1,645,000 after acquiring an additional 792 shares during the last quarter. 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.