Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2.6% – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 2.6% on Tuesday . The stock traded as low as $46.52 and last traded at $46.58. 10,083,920 shares were traded during mid-day trading, a decline of 87% from the average session volume of 80,581,008 shares. The stock had previously closed at $47.80.

Analyst Upgrades and Downgrades

SMCI has been the topic of a number of research reports. JPMorgan Chase & Co. cut Super Micro Computer from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $50.00 in a research report on Friday, September 6th. Nomura cut Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research report on Wednesday, July 10th. Barclays cut their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company lowered their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Finally, Mizuho began coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and an average target price of $74.53.

Super Micro Computer Stock Down 4.3 %

The firm’s 50 day moving average price is $48.05 and its 200-day moving average price is $69.91. 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 $2.56 billion, a P/E ratio of 2.54 and a beta of 1.23.

Super Micro Computer (NASDAQ:SMCI) last released its earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. Super Micro Computer’s revenue was up 142.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. As a group, equities research analysts expect that Super Micro Computer, Inc. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC bought a new stake in shares of Super Micro Computer in the 1st quarter valued at $690,000. Ballentine Partners LLC acquired a new position in Super Micro Computer in the first quarter valued at about $253,000. Gateway Investment Advisers LLC bought a new stake in shares of Super Micro Computer in the first quarter worth about $499,000. Arkfeld Wealth Strategies L.L.C. acquired a new stake in shares of Super Micro Computer during the first quarter worth about $566,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Super Micro Computer by 14.4% during the 1st quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock valued at $104,000 after purchasing an additional 13 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.