Super Micro Computer (NASDAQ:SMCI) Shares Down 18.3%

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was down 18.3% during trading on Wednesday . The stock traded as low as $701.05 and last traded at $701.57. Approximately 6,457,903 shares traded hands during trading, a decline of 33% from the average daily volume of 9,637,808 shares. The stock had previously closed at $858.80.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SMCI shares. Wells Fargo & Company started coverage on shares of Super Micro Computer in a report on Friday, February 16th. They issued an “equal weight” rating and a $960.00 price target on the stock. Northland Securities lifted their price target on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Argus started coverage on shares of Super Micro Computer in a report on Wednesday, March 6th. They issued a “buy” rating and a $1,350.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Super Micro Computer in a report on Monday, March 25th. They issued an “overweight” rating and a $1,150.00 price target on the stock. Finally, KeyCorp started coverage on shares of Super Micro Computer in a report on Wednesday, April 24th. They issued a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Super Micro Computer has an average rating of “Hold” and an average price target of $970.62.

Super Micro Computer Price Performance

The business’s 50-day moving average price is $952.07 and its 200 day moving average price is $576.78. The stock has a market capitalization of $40.61 billion, a PE ratio of 54.77, a price-to-earnings-growth ratio of 0.79 and a beta of 1.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.19 and a current ratio of 2.43.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Monday, January 29th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $2.80 billion. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The business’s revenue for the quarter was up 103.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.09 EPS. Research analysts forecast that Super Micro Computer, Inc. will post 20.24 earnings per share for the current year.

Insider Transactions at Super Micro Computer

In other news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the sale, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at approximately $1,845,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Super Micro Computer news, SVP Don W. Clegg sold 28,727 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total value of $25,123,772.39. Following the completion of the sale, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sherman Tuan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the sale, the director now directly owns 22,113 shares of the company’s stock, valued at $19,326,319.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,027 shares of company stock valued at $29,655,672. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP bought a new position in shares of Super Micro Computer during the third quarter valued at about $27,000. Optimum Investment Advisors purchased a new position in shares of Super Micro Computer during the fourth quarter valued at about $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Super Micro Computer during the fourth quarter valued at about $30,000. FinTrust Capital Advisors LLC purchased a new position in shares of Super Micro Computer during the fourth quarter valued at about $33,000. Finally, Bank of New Hampshire purchased a new position in shares of Super Micro Computer during the first quarter valued at about $35,000. 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.