Super Micro Computer (NASDAQ:SMCI) Shares Down 10.6% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) dropped 10.6% during trading on Monday . The stock traded as low as $29.68 and last traded at $29.74. Approximately 23,247,550 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 31,142,434 shares. The stock had previously closed at $33.27.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SMCI shares. Loop Capital raised their price target on Super Micro Computer from $35.00 to $40.00 and gave the company a "buy" rating in a report on Thursday. Argus cut shares of Super Micro Computer from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. StockNews.com lowered shares of Super Micro Computer from a "hold" rating to a "sell" rating in a report on Wednesday, October 9th. Wedbush reissued a "neutral" rating and set a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer has a consensus rating of "Hold" and an average target price of $62.89.

Super Micro Computer Stock Performance

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock's 50-day simple moving average is $33.98 and its 200-day simple moving average is $44.36. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of 14.56 and a beta of 1.31.

Institutional Investors Weigh In On Super Micro Computer

A number of large investors have recently bought and sold shares of the company. Quarry LP raised its stake in Super Micro Computer by 5,850.0% during the second quarter. Quarry LP now owns 119 shares of the company's stock worth $98,000 after acquiring an additional 117 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Super Micro Computer during the 3rd quarter worth approximately $87,000. Daymark Wealth Partners LLC lifted its stake in Super Micro Computer by 50.5% in the 2nd quarter. Daymark Wealth Partners LLC now owns 301 shares of the company's stock valued at $247,000 after purchasing an additional 101 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new stake in Super Micro Computer in the second quarter valued at approximately $269,000. Finally, Anchor Investment Management LLC grew its stake in shares of Super Micro Computer by 13.7% during the second quarter. Anchor Investment Management LLC now owns 324 shares of the company's stock worth $265,000 after buying an additional 39 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.