Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2.4% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price traded down 2.4% on Thursday . The company traded as low as $42.32 and last traded at $43.07. 12,000,566 shares changed hands during trading, a decline of 83% from the average session volume of 71,276,795 shares. The stock had previously closed at $44.13.

Analysts Set New Price Targets

SMCI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wedbush restated a "neutral" rating and set a $30.00 price target (down from $40.00) on shares of Super Micro Computer in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered Super Micro Computer from a "neutral" rating to a "sell" rating and dropped their price target for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Barclays reaffirmed an "equal weight" rating and set a $34.00 price target on shares of Super Micro Computer in a report on Tuesday, May 6th. Finally, Raymond James assumed coverage on Super Micro Computer in a report on Tuesday, May 13th. They issued an "outperform" rating and a $41.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.63.

Super Micro Computer Stock Performance

The company has a market capitalization of $24.80 billion, a PE ratio of 20.86 and a beta of 1.40. The stock has a 50-day simple moving average of $36.55 and a 200 day simple moving average of $36.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm's revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Equities analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total value of $2,949,340.00. Following the transaction, the chief financial officer now owns 88,599 shares in the company, valued at $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Super Micro Computer

Large investors have recently bought and sold shares of the business. Eastern Bank acquired a new position in shares of Super Micro Computer in the 1st quarter valued at $29,000. Parkside Financial Bank & Trust lifted its position in Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock worth $30,000 after acquiring an additional 954 shares during the last quarter. Larson Financial Group LLC lifted its position in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after acquiring an additional 893 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Super Micro Computer in the first quarter valued at approximately $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in Super Micro Computer during the first quarter valued at approximately $34,000. 84.06% of the stock is currently owned by institutional investors.

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.