Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price traded down 8.3% during trading on Thursday . The company traded as low as $31.55 and last traded at $32.18. 19,946,299 shares traded hands during trading, a decline of 73% from the average session volume of 73,184,185 shares. The stock had previously closed at $35.09.
Analysts Set New Price Targets
SMCI has been the subject of a number of recent analyst reports. Wedbush reissued a "hold" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Northland Securities set a $70.00 price target on Super Micro Computer in a research note on Thursday, March 6th. The Goldman Sachs Group lowered shares of Super Micro Computer from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research report on Tuesday, February 11th. Finally, Rosenblatt Securities assumed coverage on shares of Super Micro Computer in a report on Monday, March 10th. They issued a "buy" rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Super Micro Computer currently has a consensus rating of "Hold" and a consensus price target of $53.00.
Check Out Our Latest Analysis on SMCI
Super Micro Computer Stock Performance
The stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 14.97 and a beta of 1.22. 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's 50 day moving average is $39.39 and its 200-day moving average is $37.42.
Insider Buying and Selling
In other news, SVP George Kao sold 71,720 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $828,606.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,473 shares of company stock valued at $6,771,552. 17.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Super Micro Computer
Large investors have recently modified their holdings of the business. Clear Creek Financial Management LLC acquired a new position in Super Micro Computer during the fourth quarter worth about $635,000. Nepsis Inc. purchased a new stake in shares of Super Micro Computer in the fourth quarter valued at approximately $13,625,000. Sanctuary Advisors LLC increased its holdings in shares of Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $12,756,000 after purchasing an additional 21,997 shares during the last quarter. Fifth Third Bancorp lifted its position 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 worth $374,000 after buying an additional 11,488 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Super Micro Computer during the fourth quarter worth $277,000. Hedge funds and other institutional investors own 84.06% of the company's stock.
About Super Micro Computer
(
Get Free Report)
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.
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