Super Micro Computer (NASDAQ:SMCI) Stock Price Down 4.9% - Here's What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) fell 4.9% during trading on Friday . The company traded as low as $35.68 and last traded at $36.06. 23,183,063 shares traded hands during trading, a decline of 72% from the average session volume of 83,660,406 shares. The stock had previously closed at $37.93.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SMCI shares. Argus downgraded shares of Super Micro Computer from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Loop Capital cut their target price on shares of 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. Barclays decreased their target price on Super Micro Computer from $438.00 to $42.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 2nd. Wedbush reissued a "neutral" rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price objective on Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Super Micro Computer currently has an average rating of "Hold" and an average target price of $66.89.

Super Micro Computer Stock Down 5.4 %

The stock has a market capitalization of $20.07 billion, a P/E ratio of 18.10 and a beta of 1.29. 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 firm's fifty day moving average is $36.89 and its 200-day moving average is $56.23.

Institutional Trading of Super Micro Computer

Large investors have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. grew its holdings in Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company's stock worth $25,000 after acquiring an additional 24 shares during the last quarter. Moser Wealth Advisors LLC acquired a new stake in shares of Super Micro Computer in the second quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. raised its position in Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company's stock worth $34,000 after purchasing an additional 24 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in Super Micro Computer during the 2nd quarter worth $42,000. Finally, Resources Management Corp CT ADV raised its position in shares of Super Micro Computer by 100.0% during the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company's stock worth $49,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 84.06% of the company's stock.

About Super Micro Computer

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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