Super Micro Computer (NASDAQ:SMCI) Shares Down 3.1% - Here's What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) dropped 3.1% during mid-day trading on Friday . The stock traded as low as $41.23 and last traded at $42.01. Approximately 11,913,159 shares were traded during trading, a decline of 83% from the average daily volume of 70,901,671 shares. The stock had previously closed at $43.36.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several research reports. Wedbush reaffirmed a "neutral" rating and issued a $30.00 price objective (down from $40.00) on shares of Super Micro Computer in a research report on Wednesday, May 7th. KGI Securities assumed coverage on Super Micro Computer in a report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. Raymond James initiated coverage on Super Micro Computer in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $41.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $39.00 price target on shares of Super Micro Computer in a research report on Wednesday, May 7th. 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. According to MarketBeat.com, Super Micro Computer presently has a consensus rating of "Hold" and a consensus price target of $45.63.

Super Micro Computer Price Performance

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $37.59 and a 200 day moving average of $37.22. The firm has a market cap of $24.80 billion, a P/E ratio of 20.86 and a beta of 1.40.

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

Insiders Place Their Bets

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the 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 transaction, the chief financial officer now owns 88,599 shares in the company, valued at $3,900,127.98. This trade represents a 43.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently bought and sold shares of the business. Eastern Bank bought a new stake in Super Micro Computer in the 1st quarter valued at about $29,000. Parkside Financial Bank & Trust grew its holdings in shares of Super Micro Computer by 2,890.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock worth $30,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after purchasing an additional 893 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Super Micro Computer in the first quarter worth $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in Super Micro Computer in the first quarter valued at about $34,000. 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.