Super Micro Computer (NASDAQ:SMCI) Shares Down 9.9% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) was down 9.9% during mid-day trading on Tuesday . The stock traded as low as $34.03 and last traded at $34.62. Approximately 48,581,993 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 82,609,328 shares. The stock had previously closed at $38.41.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SMCI shares. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Needham & Company LLC initiated coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective for the company. Wedbush restated a “neutral” rating and set a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Barclays decreased their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Performance

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 stock has a market cap of $19.62 billion, a price-to-earnings ratio of 17.61 and a beta of 1.28. The stock’s 50 day moving average is $37.70 and its two-hundred day moving average is $59.71.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after acquiring an additional 88,692 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Super Micro Computer by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after purchasing an additional 16,007 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of Super Micro Computer by 3.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after purchasing an additional 31,064 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Super Micro Computer by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after buying an additional 2,011 shares during the last quarter. Institutional investors and hedge funds 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.