Super Micro Computer (NASDAQ:SMCI) Shares Down 2.2% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price was down 2.2% on Friday . The stock traded as low as $48.38 and last traded at $48.20. Approximately 19,643,622 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 69,868,938 shares. The stock had previously closed at $49.27.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. KGI Securities assumed coverage on shares of Super Micro Computer in a research report on Wednesday, May 7th. They set a "neutral" rating on the stock. Mizuho set a $40.00 target price on shares of Super Micro Computer and gave the stock a "neutral" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. dropped their price target 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. Wedbush reaffirmed a "buy" rating on shares of Super Micro Computer in a research report on Wednesday. Finally, Northland Securities set a $59.00 target price on Super Micro Computer in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Super Micro Computer has a consensus rating of "Hold" and an average price target of $45.63.

Super Micro Computer Price Performance

The firm has a market capitalization of $29.25 billion, a PE ratio of 25.78 and a beta of 1.40. The company has a 50-day moving average price of $39.89 and a 200-day moving average price of $37.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts forecast that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the transaction, the director owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief financial officer directly owned 88,599 shares in the company, valued at $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 667,000 shares of company stock worth $29,949,340. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMCI. Vanguard Group Inc. lifted its position in Super Micro Computer by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 64,407,769 shares of the company's stock valued at $2,205,322,000 after purchasing an additional 2,415,276 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Super Micro Computer by 914.7% during the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock valued at $390,572,000 after buying an additional 11,580,677 shares during the last quarter. FMR LLC acquired a new position in shares of Super Micro Computer during the fourth quarter worth approximately $292,869,000. Invesco Ltd. grew its holdings in Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock worth $229,903,000 after buying an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp increased its position in Super Micro Computer by 1,573.8% in 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 period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.