Super Micro Computer (NASDAQ:SMCI) Trading Down 4.6% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded down 4.6% on Wednesday . The company traded as low as $32.29 and last traded at $32.79. 11,052,825 shares changed hands during trading, a decline of 65% from the average session volume of 31,813,594 shares. The stock had previously closed at $34.38.

Analysts Set New Price Targets

Several equities analysts have recently commented on SMCI shares. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $50.00 to $23.00 in a research note on Wednesday, November 6th. Mizuho assumed coverage on Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. The Goldman Sachs Group cut their price objective on 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. Wedbush reaffirmed 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. Finally, 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 objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Super Micro Computer has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Trading Down 0.0 %

The stock has a 50-day moving average of $32.02 and a 200 day moving average of $49.03. 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 stock has a market cap of $18.23 billion, a PE ratio of 16.37 and a beta of 1.31.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of Super Micro Computer by 1,128.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,204 shares of the company’s stock valued at $986,000 after buying an additional 1,106 shares during the period. Choreo LLC acquired a new stake in Super Micro Computer during the second quarter worth $607,000. MGO One Seven LLC raised its position in Super Micro Computer by 2.8% in the second quarter. MGO One Seven LLC now owns 4,151 shares of the company’s stock valued at $3,401,000 after purchasing an additional 115 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Super Micro Computer by 141.2% in 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 last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock worth $108,035,000 after purchasing an additional 110,308 shares during the period. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.