Super Micro Computer (NASDAQ:SMCI) Shares Down 1.8% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded down 1.8% on Friday . The stock traded as low as $17.62 and last traded at $17.68. 19,158,344 shares traded hands during trading, a decline of 76% from the average session volume of 80,346,719 shares. The stock had previously closed at $18.01.

Analyst Ratings Changes

SMCI has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. Cfra restated a “hold” rating and issued a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays dropped their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Down 1.9 %

The stock has a market cap of $9.88 billion, a P/E ratio of 8.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock’s fifty day moving average is $40.12 and its 200 day moving average is $63.11.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. purchased a new position in Super Micro Computer during the first quarter worth $383,000. HBK Sorce Advisory LLC purchased a new position in shares of Super Micro Computer during the 1st quarter worth about $255,000. Dorsey & Whitney Trust CO LLC bought a new position in Super Micro Computer during the 1st quarter valued at about $565,000. Tocqueville Asset Management L.P. purchased a new stake in Super Micro Computer in the 1st quarter worth about $209,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Super Micro Computer in the first quarter worth about $762,000. 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.