Super Micro Computer (NASDAQ:SMCI) Shares Down 6.7% - What's Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) dropped 6.7% on Monday . The stock traded as low as $31.20 and last traded at $33.99. Approximately 45,108,012 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 83,670,367 shares. The stock had previously closed at $36.45.

Analyst Ratings Changes

Several research firms recently commented on SMCI. Needham & Company LLC started coverage on Super Micro Computer in a research note on Wednesday, September 18th. They set a "buy" rating and a $60.00 target price for the company. StockNews.com downgraded shares of Super Micro Computer from a "hold" rating to a "sell" rating in a research note on Wednesday, October 9th. Barclays cut their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 2nd. Loop Capital decreased their target price on Super Micro Computer from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group cut their price target on Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Super Micro Computer presently has a consensus rating of "Hold" and an average price target of $66.89.

Super Micro Computer Price Performance

The company has a market capitalization of $18.70 billion, a P/E ratio of 16.79 and a beta of 1.29. The business's 50-day moving average is $36.51 and its two-hundred day moving average is $55.29. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Trading of Super Micro Computer

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. grew its stake in Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company's stock valued at $31,921,000 after purchasing an additional 61,071 shares during the period. Assetmark Inc. boosted its holdings in shares of Super Micro Computer by 164.8% in the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company's stock worth $62,599,000 after buying an additional 93,569 shares during the last quarter. Sanctuary Advisors LLC grew its position in Super Micro Computer by 254.7% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $12,756,000 after buying an additional 21,997 shares during the period. Bridgewater Associates LP increased its holdings in Super Micro Computer by 921.1% during the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company's stock worth $67,084,000 after buying an additional 145,327 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Super Micro Computer by 143.8% in the third quarter. Tidal Investments LLC now owns 50,355 shares of the company's stock worth $20,968,000 after acquiring an additional 29,697 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.