Super Micro Computer (NASDAQ:SMCI) Shares Down 1.2% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) traded down 1.2% on Tuesday . The company traded as low as $42.61 and last traded at $42.60. 7,479,240 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 71,043,906 shares. The stock had previously closed at $43.12.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barclays reiterated an "equal weight" rating and issued a $34.00 price target on shares of Super Micro Computer in a report on Tuesday, May 6th. Wedbush reissued a "neutral" rating and issued a $30.00 price objective (down previously from $40.00) on shares of Super Micro Computer in a research note on Wednesday, May 7th. Finally, Mizuho set a $40.00 price objective on Super Micro Computer and gave the stock a "neutral" rating in a research note on Monday, May 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and an average price target of $45.63.

Super Micro Computer Trading Up 0.5%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a 50 day simple moving average of $37.19 and a 200 day simple moving average of $37.12. The company has a market capitalization of $25.91 billion, a PE ratio of 21.79 and a beta of 1.40.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly 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 return on equity of 30.57% and a net margin of 8.09%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The business's revenue was up 19.5% compared to the same quarter last year. Analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other 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 value of $2,949,340.00. Following the sale, the chief financial officer now directly owns 88,599 shares in the company, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently bought and sold shares of the business. Inspire Investing LLC grew its holdings in shares of Super Micro Computer by 19.0% during the first quarter. Inspire Investing LLC now owns 74,395 shares of the company's stock worth $2,547,000 after purchasing an additional 11,864 shares during the last quarter. Strs Ohio purchased a new position in shares of Super Micro Computer during the first quarter worth about $3,424,000. Geneos Wealth Management Inc. grew its holdings in shares of Super Micro Computer by 15.2% during the first quarter. Geneos Wealth Management Inc. now owns 7,917 shares of the company's stock worth $271,000 after purchasing an additional 1,045 shares during the last quarter. Integrity Alliance LLC. purchased a new position in shares of Super Micro Computer during the first quarter worth about $753,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Super Micro Computer by 2.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,892,772 shares of the company's stock worth $99,049,000 after purchasing an additional 76,776 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company's stock.

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.