Super Micro Computer (NASDAQ:SMCI) Shares Down 5.1% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price fell 5.1% during trading on Thursday . The stock traded as low as $31.72 and last traded at $32.61. 25,795,617 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 34,887,281 shares. The stock had previously closed at $34.38.

Analysts Set New Price Targets

A number of brokerages have weighed in on SMCI. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC initiated coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target for the company. Mizuho initiated coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. Wedbush reissued a “neutral” rating and issued a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, The Goldman Sachs Group reduced their price target on shares of 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. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Super Micro Computer presently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a fifty day moving average price of $31.82 and a two-hundred day moving average price of $49.26. The company has a market cap of $18.24 billion, a P/E ratio of 16.37 and a beta of 1.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kathmere Capital Management LLC increased its stake 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 acquiring an additional 18 shares during the period. Hazlett Burt & Watson Inc. increased its position in shares of Super Micro Computer by 141.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the period. Mount Yale Investment Advisors LLC increased its position in shares of Super Micro Computer by 7.0% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 428 shares of the company’s stock valued at $351,000 after purchasing an additional 28 shares during the period. Total Clarity Wealth Management Inc. raised its stake in shares of Super Micro Computer by 3.3% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 903 shares of the company’s stock worth $740,000 after buying an additional 29 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its stake in Super Micro Computer by 3.9% during the second quarter. Steel Grove Capital Advisors LLC now owns 790 shares of the company’s stock valued at $647,000 after buying an additional 30 shares in 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.