Super Micro Computer (NASDAQ:SMCI) Shares Down 3.9% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price dropped 3.9% during mid-day trading on Monday . The stock traded as low as $46.57 and last traded at $46.64. Approximately 11,506,945 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 69,109,357 shares. The stock had previously closed at $48.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SMCI shares. Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Needham & Company LLC reiterated a "buy" rating and set a $39.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Rosenblatt Securities decreased their price target on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Northland Securities set a $59.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Super Micro Computer presently has an average rating of "Hold" and an average price target of $46.06.

Super Micro Computer Trading Down 3.0%

The business has a 50 day moving average of $41.62 and a 200-day moving average of $38.18. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $28.12 billion, a P/E ratio of 24.78 and a beta of 1.43.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the business earned $0.66 EPS. Super Micro Computer's revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 88,599 shares of the company's stock, valued at $3,900,127.98. This represents a 43.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total value of $13,500,000.00. Following the transaction, the director directly owned 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. This trade represents a 0.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 667,000 shares of company stock valued at $29,949,340. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

A number of large investors have recently bought and sold shares of SMCI. Eastern Bank acquired a new position in Super Micro Computer during the 1st quarter worth approximately $29,000. Larson Financial Group LLC boosted its position in 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 acquiring an additional 893 shares during the last quarter. AlphaQuest LLC boosted its position in Super Micro Computer by 233.0% during the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after acquiring an additional 762 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in Super Micro Computer during the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC boosted its position in Super Micro Computer by 763.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,114 shares of the company's stock worth $34,000 after acquiring an additional 985 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company's stock.

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.