Super Micro Computer (NASDAQ:SMCI) Stock Price Down 3.1% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares fell 3.1% during mid-day trading on Friday . The stock traded as low as $23.76 and last traded at $24.68. 31,937,678 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 80,752,273 shares. The stock had previously closed at $25.48.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SMCI shares. Needham & Company LLC began coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a "buy" rating and a $60.00 price objective on the stock. Argus downgraded shares of Super Micro Computer from a "buy" rating to a "hold" rating in a report on Thursday, October 31st. Susquehanna raised their target price on shares of Super Micro Computer from $28.50 to $32.50 and gave the stock a "negative" rating in a report on Monday, July 15th. Mizuho began coverage on Super Micro Computer in a research report on Tuesday, September 17th. They set a "neutral" rating and a $45.00 target price for the company. Finally, Wedbush reiterated a "neutral" rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research note on Monday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.89.

Super Micro Computer Stock Down 2.9 %

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 12.39 and a beta of 1.28. The stock's 50-day moving average is $42.34 and its 200-day moving average is $65.07.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.14). The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business's quarterly revenue was up 142.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, analysts anticipate that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company's stock worth $6,256,739,000 after acquiring an additional 1,265,542 shares in the last quarter. GQG Partners LLC bought a new position in shares of Super Micro Computer in the first quarter valued at approximately $1,325,466,000. International Assets Investment Management LLC boosted its position in shares of Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company's stock valued at $381,629,000 after buying an additional 915,058 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Super Micro Computer by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company's stock worth $283,609,000 after buying an additional 2,011 shares in the last quarter. Finally, Swiss National Bank raised its position in Super Micro Computer by 1.1% in the 1st quarter. Swiss National Bank now owns 150,600 shares of the company's stock valued at $152,111,000 after buying an additional 1,700 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

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.

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