Super Micro Computer (NASDAQ:SMCI) Lowered to Sell Rating by The Goldman Sachs Group

Super Micro Computer (NASDAQ:SMCI - Get Free Report) was downgraded by The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a report released on Monday, MarketBeat reports. They currently have a $32.00 target price on the stock, down from their previous target price of $40.00. The Goldman Sachs Group's price objective suggests a potential downside of 21.26% from the company's previous close.

A number of other analysts have also recently issued reports on SMCI. Cfra upgraded Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Tuesday, February 11th. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Northland Capmk upgraded shares of Super Micro Computer to a "strong-buy" rating in a research note on Friday, December 20th. Wedbush restated a "hold" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Northland Securities set a $70.00 target price on Super Micro Computer in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $53.00.

Remove Ads

Super Micro Computer Stock Down 2.6 %

Shares of NASDAQ SMCI traded down $1.08 during mid-day trading on Monday, reaching $40.64. The company had a trading volume of 57,578,808 shares, compared to its average volume of 73,254,549. The firm has a 50 day simple moving average of $38.87 and a two-hundred day simple moving average of $37.83. Super Micro Computer has a 52-week low of $17.25 and a 52-week high of $110.61. 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 stock has a market cap of $24.12 billion, a P/E ratio of 20.40 and a beta of 1.21.

Insider Buying and Selling

In other news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Liang sold 46,293 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the sale, the chief executive officer now owns 67,403,640 shares in the company, valued at approximately $3,381,640,618.80. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Meridian Wealth Management LLC purchased a new position in Super Micro Computer during the third quarter worth approximately $270,000. Benjamin Edwards Inc. purchased a new position in shares of Super Micro Computer in the 3rd quarter worth $383,000. Parkside Financial Bank & Trust boosted its holdings in Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after acquiring an additional 954 shares during the last quarter. Larson Financial Group LLC grew its position in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after acquiring an additional 893 shares during the period. Finally, Salem Investment Counselors Inc. acquired a new stake in Super Micro Computer during the fourth quarter worth about $30,000. Institutional investors and hedge funds 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.