Super Micro Computer (NASDAQ:SMCI) Trading Down 2% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares dropped 2% on Tuesday . The stock traded as low as $27.22 and last traded at $28.50. Approximately 16,475,202 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 32,521,176 shares. The stock had previously closed at $29.07.

Analyst Ratings Changes

A number of research firms have recently issued reports on SMCI. Northland Capmk raised shares of Super Micro Computer to a "strong-buy" rating in a research report on Friday, December 20th. StockNews.com downgraded Super Micro Computer from a "hold" rating to a "sell" rating in a report on Wednesday, October 9th. Wedbush reissued a "neutral" rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Loop Capital boosted their price target on shares of Super Micro Computer from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Three investment 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 company. Based on data from MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and an average target price of $62.89.

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Super Micro Computer Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The firm has a market capitalization of $15.95 billion, a P/E ratio of 14.32 and a beta of 1.31. The stock has a 50 day moving average of $33.91 and a 200-day moving average of $42.95.

Institutional Trading of Super Micro Computer

A number of institutional investors have recently modified their holdings of SMCI. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Super Micro Computer during the third quarter worth $87,000. Anchor Investment Management LLC lifted its holdings in Super Micro Computer by 13.7% during the 2nd quarter. Anchor Investment Management LLC now owns 324 shares of the company's stock worth $265,000 after purchasing an additional 39 shares in the last quarter. Miller Wealth Advisors LLC bought a new position in Super Micro Computer in the 3rd quarter worth about $152,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Super Micro Computer by 252.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 374 shares of the company's stock valued at $156,000 after buying an additional 268 shares in the last quarter. Finally, Prospect Financial Services LLC bought a new stake in shares of Super Micro Computer during the third quarter valued at about $208,000. 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.