Super Micro Computer (NASDAQ:SMCI) Shares Down 1.7% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price fell 1.7% on Wednesday . The stock traded as low as $31.71 and last traded at $32.93. 13,440,263 shares traded hands during trading, a decline of 82% from the average session volume of 73,233,365 shares. The stock had previously closed at $33.48.

Analyst Upgrades and Downgrades

SMCI has been the topic of several recent analyst reports. StockNews.com upgraded Super Micro Computer to a "sell" rating in a research note on Friday, February 28th. Barclays began coverage on Super Micro Computer in a research note on Thursday, February 27th. They set an "equal weight" rating and a $59.00 target price for the company. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a research note on Thursday, March 6th. Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Tuesday, February 11th. Finally, Rosenblatt Securities assumed coverage on shares of Super Micro Computer in a report on Monday, March 10th. They set a "buy" rating and a $60.00 price objective for the company. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $52.57.

Super Micro Computer Price Performance

The business has a 50 day simple moving average of $39.73 and a 200-day simple moving average of $36.54. The company has a market capitalization of $18.69 billion, a P/E ratio of 15.81 and a beta of 1.22. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP George Kao sold 71,720 shares of the 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 completion of the transaction, the senior vice president now owns 19,449 shares of the company's stock, valued at $981,785.52. This represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 in the last ninety days. Company insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

A number of institutional investors have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC raised its holdings in Super Micro Computer by 214.8% during the first quarter. Cornerstone Wealth Management LLC now owns 22,564 shares of the company's stock worth $773,000 after purchasing an additional 15,396 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Super Micro Computer by 9.8% during the 1st quarter. QRG Capital Management Inc. now owns 17,870 shares of the company's stock valued at $612,000 after purchasing an additional 1,594 shares during the period. Sowell Financial Services LLC raised its stake in shares of Super Micro Computer by 11.7% in the 1st quarter. Sowell Financial Services LLC now owns 14,775 shares of the company's stock worth $506,000 after buying an additional 1,550 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Super Micro Computer by 1,408.1% in the first quarter. Exchange Traded Concepts LLC now owns 84,513 shares of the company's stock valued at $2,894,000 after buying an additional 78,909 shares during the period. Finally, Southland Equity Partners LLC acquired a new position in Super Micro Computer during the first quarter worth about $211,000. 84.06% of the stock is 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.