Super Micro Computer (NASDAQ:SMCI) Trading Down 4.6% – What’s Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 4.6% on Wednesday . The company traded as low as $32.29 and last traded at $32.79. Approximately 11,052,825 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 31,813,594 shares. The stock had previously closed at $34.38.

Analyst Ratings Changes

SMCI has been the subject of several research reports. Wedbush restated a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Needham & Company LLC assumed coverage on Super Micro Computer in a research note on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lowered shares of 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 note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Down 0.0 %

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 business’s 50 day moving average price is $32.02 and its 200-day moving average price is $49.03. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. Rakuten Securities Inc. raised its stake in shares of Super Micro Computer by 391.8% during the third 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 in the last quarter. Assetmark Inc. raised its position in shares of Super Micro Computer by 164.8% during the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock worth $62,599,000 after buying an additional 93,569 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after acquiring an additional 21,997 shares during the period. Bridgewater Associates LP lifted its stake in shares of Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after acquiring an additional 145,327 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Super Micro Computer by 143.8% in the third quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after acquiring an additional 29,697 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.