Super Micro Computer (NASDAQ:SMCI) Shares Down 4.6% – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 4.6% during trading on Wednesday . The stock traded as low as $32.29 and last traded at $32.79. Approximately 11,052,825 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 31,813,594 shares. The stock had previously closed at $34.38.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Mizuho started coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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 $18.14 billion, a price-to-earnings ratio of 16.29 and a beta of 1.31. The stock’s 50-day simple moving average is $31.83 and its 200-day simple moving average is $49.67.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kathmere Capital Management LLC grew its stake in Super Micro Computer by 5.0% during the second quarter. Kathmere Capital Management LLC now owns 379 shares of the company’s stock worth $311,000 after purchasing an additional 18 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the period. Mount Yale Investment Advisors LLC grew its stake in Super Micro Computer by 7.0% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 428 shares of the company’s stock valued at $351,000 after purchasing an additional 28 shares during the period. Total Clarity Wealth Management Inc. raised its stake in shares of Super Micro Computer by 3.3% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 903 shares of the company’s stock worth $740,000 after purchasing an additional 29 shares during the period. Finally, Steel Grove Capital Advisors LLC boosted its holdings in shares of Super Micro Computer by 3.9% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 790 shares of the company’s stock worth $647,000 after buying an additional 30 shares during the last quarter. 84.06% of the stock is owned by 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.