Super Micro Computer (NASDAQ:SMCI) Trading Down 3% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price dropped 3% during trading on Friday . The stock traded as low as $39.34 and last traded at $39.93. Approximately 12,628,656 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 64,297,633 shares. The stock had previously closed at $41.15.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SMCI shares. Mizuho set a $40.00 price objective on Super Micro Computer and gave the company a "neutral" rating in a research report on Monday, May 19th. KGI Securities started coverage on Super Micro Computer in a research report on Wednesday, May 7th. They set a "neutral" rating for the company. Raymond James started coverage on Super Micro Computer in a research report on Tuesday, May 13th. They set an "outperform" rating and a $41.00 price objective for the company. The Goldman Sachs Group cut Super Micro Computer from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Finally, 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. Three equities 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.63.

Super Micro Computer Stock Performance

The stock has a market capitalization of $23.71 billion, a P/E ratio of 19.94 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company's fifty day simple moving average is $35.84 and its two-hundred day simple moving average is $36.23.

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

Insider Transactions at Super Micro Computer

In other news, CFO David E. Weigand sold 67,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the transaction, the chief financial officer now directly owns 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Super Micro Computer by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock worth $854,000 after purchasing an additional 302 shares during the period. Fairscale Capital LLC increased its stake in Super Micro Computer by 13.3% in the first quarter. Fairscale Capital LLC now owns 2,698 shares of the company's stock valued at $92,000 after acquiring an additional 317 shares during the last quarter. Wahed Invest LLC increased its stake in Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock valued at $377,000 after acquiring an additional 352 shares during the last quarter. Horizon Investments LLC increased its stake in Super Micro Computer by 5.2% in the first quarter. Horizon Investments LLC now owns 7,234 shares of the company's stock valued at $248,000 after acquiring an additional 355 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 394 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.