Super Micro Computer (NASDAQ:SMCI) Stock Price Down 7.4% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price dropped 7.4% during mid-day trading on Thursday . The company traded as low as $17.36 and last traded at $18.83. Approximately 48,020,879 shares traded hands 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.

Analyst Ratings Changes

SMCI has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Super Micro Computer in a research report on Wednesday, August 7th. Wells Fargo & Company lowered 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 report on Wednesday, August 28th. Barclays cut their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Loop Capital dropped their price target on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Trading Up 3.2 %

The business has a fifty day moving average price of $39.66 and a 200-day moving average price of $62.80. 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 company has a market cap of $10.39 billion, a P/E ratio of 9.34 and a beta of 1.28.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMCI. Invst LLC boosted its position in shares of Super Micro Computer by 4.3% in the first quarter. Invst LLC now owns 337 shares of the company’s stock valued at $350,000 after acquiring an additional 14 shares during the period. Byrne Asset Management LLC grew its position in shares of Super Micro Computer by 10.4% during the 2nd quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after purchasing an additional 14 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Super Micro Computer by 30.0% during the second quarter. Versant Capital Management Inc now owns 65 shares of the company’s stock worth $53,000 after purchasing an additional 15 shares during the period. Fielder Capital Group LLC raised its position in shares of Super Micro Computer by 2.8% in the second quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock valued at $475,000 after buying an additional 16 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in shares of Super Micro Computer by 5.0% in the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock valued at $311,000 after buying an additional 18 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

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.