Super Micro Computer (NASDAQ:SMCI) Trading Down 2.4% - What's Next?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price fell 2.4% during trading on Thursday . The company traded as low as $42.32 and last traded at $43.07. 12,000,566 shares traded 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.

Analyst Ratings Changes

SMCI has been the subject of a number of research analyst reports. Wedbush reaffirmed a "neutral" rating and issued a $30.00 target price (down from $40.00) on shares of Super Micro Computer in a research note on Wednesday, May 7th. 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 report on Wednesday, May 7th. Citigroup began coverage on Super Micro Computer in a report on Tuesday, May 6th. They set a "neutral" rating and a $39.00 price objective for the company. Cfra upgraded Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $39.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.63.

Super Micro Computer Trading Up 1.9%

The company has a market cap of $24.80 billion, a P/E ratio of 20.86 and a beta of 1.40. The business's 50-day moving average price is $36.55 and its 200 day moving average price is $36.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

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

Insider Transactions at Super Micro Computer

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

Hedge Funds Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Super Micro Computer by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock worth $854,000 after buying an additional 302 shares during the period. Fairscale Capital LLC lifted its position in Super Micro Computer by 13.3% during the first quarter. Fairscale Capital LLC now owns 2,698 shares of the company's stock worth $92,000 after acquiring an additional 317 shares during the last quarter. Wahed Invest LLC boosted its holdings in shares of Super Micro Computer by 2.9% during the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after acquiring an additional 352 shares during the period. Horizon Investments LLC boosted its holdings in shares of Super Micro Computer by 5.2% during the first quarter. Horizon Investments LLC now owns 7,234 shares of the company's stock worth $248,000 after acquiring an additional 355 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Super Micro Computer by 32.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,590 shares of the company's stock valued at $54,000 after purchasing an additional 394 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.