Super Micro Computer (NASDAQ:SMCI) Shares Down 0.3% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares dropped 0.3% during trading on Wednesday . The company traded as low as $33.77 and last traded at $34.94. Approximately 12,374,420 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 73,157,923 shares. The stock had previously closed at $35.05.

Wall Street Analyst Weigh In

SMCI has been the topic of several recent research reports. Rosenblatt Securities started coverage on Super Micro Computer in a report on Monday, March 10th. They set a "buy" rating and a $60.00 price objective on the stock. Wedbush restated a "hold" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised Super Micro Computer from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $35.00 to $45.00 in a research note on Friday, March 21st. 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. Finally, Barclays began coverage on shares of Super Micro Computer in a research report on Thursday, February 27th. They issued an "equal weight" rating and a $59.00 price target for the company. Three 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $53.00.

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Super Micro Computer Stock Performance

The stock has a market capitalization of $19.20 billion, a P/E ratio of 16.58 and a beta of 1.21. 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 50-day moving average price of $39.48 and a two-hundred day moving average price of $37.51.

Insider Activity at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP George Kao sold 71,720 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now owns 19,449 shares of the company's stock, valued at $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 in the last quarter. Company insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. purchased a new stake in Super Micro Computer during the fourth quarter worth about $30,000. Trust Co. of Vermont lifted its position in shares of 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 acquiring an additional 900 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock worth $30,000 after acquiring an additional 954 shares during the period. Larson Financial Group LLC grew 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 purchasing an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in shares of Super Micro Computer during the 4th quarter valued at $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.