Super Micro Computer (NASDAQ:SMCI) Shares Down 5.4% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) fell 5.4% during trading on Thursday . The stock traded as low as $34.06 and last traded at $34.73. 12,661,584 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 73,334,122 shares. The stock had previously closed at $36.71.

Analyst Ratings Changes

Several research firms have issued reports on SMCI. Rosenblatt Securities initiated coverage on shares of Super Micro Computer in a research note on Monday, March 10th. They set a "buy" rating and a $60.00 price objective for the company. Northland Securities set a $70.00 price target on Super Micro Computer in a report on Thursday, March 6th. Barclays began coverage on Super Micro Computer in a research report on Thursday, February 27th. They issued an "equal weight" rating and a $59.00 target price for the company. Wedbush reissued a "hold" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised shares of Super Micro Computer from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $35.00 to $45.00 in a research report on Friday, March 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.00.

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Super Micro Computer Stock Performance

The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 16.63 and a beta of 1.22. The stock has a 50 day simple moving average of $40.16 and a 200 day simple moving average of $36.81. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In other news, Director Robert L. Blair sold 19,460 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total value of $2,322,519.81. Following the sale, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock valued at $6,771,552 over the last three months. Company insiders own 17.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Clear Creek Financial Management LLC bought a new stake in Super Micro Computer during the fourth quarter worth approximately $635,000. Nepsis Inc. acquired a new stake in shares of Super Micro Computer in the fourth quarter valued at $13,625,000. Fifth Third Bancorp boosted its stake in Super Micro Computer by 1,476.6% during the fourth quarter. Fifth Third Bancorp now owns 12,266 shares of the company's stock valued at $374,000 after buying an additional 11,488 shares in the last quarter. Oak Thistle LLC acquired a new position in Super Micro Computer during the fourth quarter worth about $277,000. Finally, Diversify Advisory Services LLC acquired a new position in Super Micro Computer during the fourth quarter worth about $5,113,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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.