Super Micro Computer (NASDAQ:SMCI) Trading Down 5.1% – Should You Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $31.72 and last traded at $32.61. Approximately 25,795,617 shares changed hands during trading, a decline of 26% from the average daily volume of 34,887,281 shares. The stock had previously closed at $34.38.

Wall Street Analysts Forecast Growth

SMCI has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price for the company. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Mizuho began coverage on shares of 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. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Finally, Barclays decreased their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Price Performance

The firm’s 50-day moving average price is $32.02 and its 200-day moving average price is $49.03. The stock has a market capitalization of $18.23 billion, a PE ratio of 16.37 and a beta of 1.31. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently made changes to their positions in SMCI. Resources Management Corp CT ADV grew its stake in Super Micro Computer by 100.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after acquiring an additional 30 shares in the last quarter. Rise Advisors LLC grew its stake in Super Micro Computer by 909.5% during the 4th quarter. Rise Advisors LLC now owns 1,696 shares of the company’s stock worth $52,000 after buying an additional 1,528 shares during the last quarter. Clear Point Advisors Inc. increased its holdings in shares of Super Micro Computer by 471.4% during the second quarter. Clear Point Advisors Inc. now owns 80 shares of the company’s stock valued at $66,000 after acquiring an additional 66 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Super Micro Computer in the third quarter worth about $87,000. Finally, Quarry LP lifted its position in Super Micro Computer by 5,850.0% during the second quarter. Quarry LP now owns 119 shares of the company’s stock valued at $98,000 after purchasing an additional 117 shares during the period. Hedge funds and other 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.