Super Micro Computer (NASDAQ:SMCI) Stock Price Down 1.4% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price traded down 1.4% during mid-day trading on Monday . The company traded as low as $36.75 and last traded at $37.71. 28,469,961 shares changed hands during trading, a decline of 63% from the average session volume of 77,231,453 shares. The stock had previously closed at $38.24.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SMCI shares. Rosenblatt Securities started coverage on shares of Super Micro Computer in a research note on Monday. They issued a “buy” rating and a $60.00 price target for the company. Northland Securities set a $70.00 target price on Super Micro Computer in a research note on Thursday, March 6th. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, February 11th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $52.57.

Super Micro Computer Price Performance

The company has a fifty day moving average price of $37.41 and a two-hundred day moving average price of $38.32. The firm has a market capitalization of $24.24 billion, a PE ratio of 20.50 and a beta of 1.21. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George Kao sold 71,720 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently added to or reduced their stakes in SMCI. Vanguard Group Inc. grew its stake in shares of Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after purchasing an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Super Micro Computer by 914.7% during the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after purchasing an additional 11,580,677 shares during the period. FMR LLC purchased a new position in Super Micro Computer in the 4th quarter valued at $292,869,000. Invesco Ltd. increased its stake in Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after buying an additional 6,810,082 shares during the period. Finally, Northern Trust Corp increased its stake in Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after buying an additional 4,605,260 shares during the period. 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.