Super Micro Computer (NASDAQ:SMCI) Shares Down 3.3% - Here's What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) fell 3.3% on Thursday . The stock traded as low as $30.82 and last traded at $31.17. 17,963,862 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 83,230,063 shares. The stock had previously closed at $32.23.

Analysts Set New Price Targets

SMCI has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of Super Micro Computer from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. StockNews.com lowered shares of Super Micro Computer from a "hold" rating to a "sell" rating in a research report on Wednesday, October 9th. Wells Fargo & Company cut their target price on Super Micro Computer from $65.00 to $37.50 and set an "equal weight" rating on the stock in a research report on Wednesday, August 28th. Loop Capital dropped their price target on Super Micro Computer from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, September 23rd. Finally, Needham & Company LLC started coverage on Super Micro Computer in a research note on Wednesday, September 18th. They issued a "buy" rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $66.89.

Super Micro Computer Price Performance

The company has a market cap of $17.47 billion, a price-to-earnings ratio of 15.68 and a beta of 1.29. The stock has a 50 day simple moving average of $35.97 and a two-hundred day simple moving average of $54.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Investors Weigh In On Super Micro Computer

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

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.