Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price dropped 2.9% on Monday . The company traded as low as $32.49 and last traded at $32.74. Approximately 11,766,385 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 71,629,218 shares. The stock had previously closed at $33.71.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on SMCI shares. Wedbush reissued a "hold" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Super Micro Computer from a "neutral" rating to a "sell" rating and reduced their price target for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Barclays cut their target price on shares of Super Micro Computer from $59.00 to $34.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Northland Securities set a $70.00 price objective on Super Micro Computer in a research note on Thursday, March 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $48.73.
View Our Latest Analysis on Super Micro Computer
Super Micro Computer Price Performance
The company's 50 day simple moving average is $36.34 and its 200 day simple moving average is $35.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a market cap of $19.40 billion, a P/E ratio of 16.28 and a beta of 1.36.
Insiders Place Their Bets
In related news, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the sale, the chief executive officer now owns 67,403,640 shares of the company's stock, valued at approximately $3,381,640,618.80. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP George Kao sold 71,720 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now directly owns 19,449 shares of the company's stock, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,473 shares of company stock worth $6,771,552. Corporate insiders own 17.60% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after acquiring an additional 954 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after buying an additional 893 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Super Micro Computer in the fourth quarter valued at $30,000. Trust Co. of Vermont increased its holdings in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 900 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Super Micro Computer during the first quarter worth $34,000. Institutional investors and hedge funds own 84.06% of the company's stock.
About Super Micro Computer
(
Get Free Report)
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.
Further Reading
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