Super Micro Computer (NASDAQ:SMCI) Trading Down 3.9% - Here's What Happened

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $39.00 price target on shares of Super Micro Computer in a research report on Wednesday, May 7th. Mizuho lifted their target price on Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wall Street Zen raised Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Northland Securities set a $59.00 target price on Super Micro Computer in a research report on Wednesday, May 7th. Finally, Citigroup initiated coverage on Super Micro Computer in a research report on Tuesday, May 6th. They set a "neutral" rating and a $39.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.88.

Super Micro Computer Stock Up 0.7%

The business's 50 day moving average price is $42.25 and its 200-day moving average price is $38.34. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. The company has a market cap of $30.06 billion, a P/E ratio of 26.49 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, beating analysts' consensus estimates of $0.30 by $0.01. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. Super Micro Computer's quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles Liang sold 300,000 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total value of $13,500,000.00. Following the completion of the transaction, the chief executive officer owned 66,903,640 shares in the company, valued at $3,010,663,800. The trade was a 0.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David E. Weigand sold 67,000 shares of the business'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 trade represents a 43.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 667,000 shares of company stock worth $29,949,340 in the last quarter. Insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Super Micro Computer by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 64,407,769 shares of the company's stock valued at $2,205,322,000 after acquiring an additional 2,415,276 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock valued at $390,572,000 after acquiring an additional 11,580,677 shares during the last quarter. FMR LLC bought a new stake in shares of Super Micro Computer during the 4th quarter valued at $292,869,000. Invesco Ltd. raised its position in shares of Super Micro Computer by 929.5% during the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock valued at $229,903,000 after acquiring an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Super Micro Computer by 1,573.8% during the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock valued at $149,287,000 after acquiring an additional 4,605,260 shares during the last quarter. Institutional investors 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.