Super Micro Computer (NASDAQ:SMCI) Shares Down 9.2% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price fell 9.2% on Thursday . The stock traded as low as $44.18 and last traded at $46.42. 52,148,527 shares were traded during mid-day trading, a decline of 31% from the average session volume of 75,436,344 shares. The stock had previously closed at $51.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMCI. The Goldman Sachs Group raised their price objective on Super Micro Computer from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday. Barclays initiated coverage on Super Micro Computer in a research report on Thursday. They set an “equal weight” rating and a $59.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Super Micro Computer from $23.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, February 11th. Finally, Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.87.

Super Micro Computer Stock Performance

The company has a market capitalization of $25.15 billion, a PE ratio of 21.56 and a beta of 1.30. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $36.20 and its two-hundred day moving average is $39.65.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust bought a new position in Super Micro Computer during the 3rd quarter valued at about $87,000. Retirement Systems of Alabama lifted its position in Super Micro Computer by 2.3% during the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares during the period. TrueWealth Advisors LLC boosted its holdings in Super Micro Computer by 99.0% in the third quarter. TrueWealth Advisors LLC now owns 593 shares of the company’s stock worth $247,000 after purchasing an additional 295 shares during the last quarter. Wahed Invest LLC grew its position in Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after purchasing an additional 352 shares during the period. Finally, Miller Wealth Advisors LLC purchased a new stake in Super Micro Computer during the 3rd quarter valued at $152,000. 84.06% of the stock is owned by institutional investors.

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.