Super Micro Computer (NASDAQ:SMCI) Shares Down 4.7% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price traded down 4.7% during mid-day trading on Thursday . The company traded as low as $41.41 and last traded at $42.87. 36,434,787 shares were traded during mid-day trading, a decline of 50% from the average session volume of 72,421,343 shares. The stock had previously closed at $45.00.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SMCI shares. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a research note on Wednesday, May 7th. StockNews.com upgraded shares of Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. KGI Securities initiated coverage on shares of Super Micro Computer in a report on Wednesday, May 7th. They set a "neutral" rating on the stock. Wedbush reiterated a "neutral" rating and set a $30.00 price objective (down from $40.00) on shares of Super Micro Computer in a report on Wednesday, May 7th. Finally, Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $45.25.

Super Micro Computer Stock Performance

The stock has a market capitalization of $26.39 billion, a P/E ratio of 22.27 and a beta of 1.36. The company's 50-day moving average is $35.44 and its two-hundred day moving average is $35.09. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, topping 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%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, CEO Charles Liang sold 46,293 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the sale, the chief executive officer now directly owns 67,403,640 shares of the company's stock, valued at approximately $3,381,640,618.80. This represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP George Kao sold 71,720 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company's stock, valued at $981,785.52. This represents a 78.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock valued at $6,771,552 in the last quarter. Insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in Super Micro Computer by 1.3% in the first 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 last quarter. Fairscale Capital LLC increased its holdings in Super Micro Computer by 13.3% in the 1st quarter. Fairscale Capital LLC now owns 2,698 shares of the company's stock valued at $92,000 after buying an additional 317 shares during the period. Wahed Invest LLC boosted its stake in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock valued at $377,000 after purchasing an additional 352 shares in the last quarter. Horizon Investments LLC boosted its stake in shares of Super Micro Computer by 5.2% in the 1st quarter. Horizon Investments LLC now owns 7,234 shares of the company's stock valued at $248,000 after purchasing an additional 355 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Super Micro Computer by 32.9% in the 1st 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 in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

About Super Micro Computer

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.

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