Super Micro Computer (NASDAQ:SMCI) Shares Down 0.8% - What's Next?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price was down 0.8% during trading on Wednesday . The company traded as low as $32.99 and last traded at $33.54. Approximately 14,981,339 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 83,380,203 shares. The stock had previously closed at $33.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Barclays reduced their price objective on Super Micro Computer from $438.00 to $42.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 2nd. Mizuho started coverage on Super Micro Computer in a research report on Tuesday, September 17th. They issued a "neutral" rating and a $45.00 target price on the stock. JPMorgan Chase & Co. lowered shares of Super Micro Computer from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Finally, Needham & Company LLC started coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They issued a "buy" rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The company has a market cap of $18.03 billion, a PE ratio of 16.18 and a beta of 1.29. 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 50 day moving average is $36.27 and its two-hundred day moving average is $54.95.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. raised its stake in Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company's stock valued at $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC bought a new stake in shares of Super Micro Computer during the second quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company's stock worth $34,000 after buying an additional 24 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Super Micro Computer during the second quarter worth $42,000. Finally, Resources Management Corp CT ADV grew its stake in Super Micro Computer by 100.0% during the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company's stock valued at $49,000 after acquiring an additional 30 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other 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.