Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2.4% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price fell 2.4% during trading on Monday . The stock traded as low as $40.16 and last traded at $41.15. 30,759,297 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 74,850,320 shares. The stock had previously closed at $42.15.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Rosenblatt Securities began coverage on shares of Super Micro Computer in a report on Monday, March 10th. They issued a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. raised shares of Super Micro Computer from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $35.00 to $45.00 in a research report on Friday, March 21st. Northland Securities set a $70.00 price target on Super Micro Computer in a research note on Thursday, March 6th. Northland Capmk upgraded Super Micro Computer to a "strong-buy" rating in a research note on Friday, December 20th. Finally, Cfra upgraded 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. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.00.

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Super Micro Computer Stock Performance

The stock's 50-day moving average is $39.07 and its 200 day moving average is $37.83. The stock has a market cap of $22.03 billion, a price-to-earnings ratio of 18.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Insider Activity

In other news, CEO Charles Liang sold 46,293 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 in the last three months. 17.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMCI. Salem Investment Counselors Inc. acquired a new stake in shares of Super Micro Computer in the 4th quarter worth approximately $30,000. Trust Co. of Vermont boosted its position in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after buying an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in shares of Super Micro Computer during the 4th quarter worth $31,000. 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.