Super Micro Computer (NASDAQ:SMCI) Stock Price Down 1.2% – Here’s Why

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

Analysts Set New Price Targets

Several brokerages recently issued reports on SMCI. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, February 11th. 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. Northland Securities set a $59.00 target price on shares of Super Micro Computer in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, KGI Securities began coverage on shares of Super Micro Computer in a research report on Wednesday, May 7th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Super Micro Computer has a consensus rating of “Hold” and a consensus target price of $45.63.

Super Micro Computer Stock Performance

The stock has a market cap of $25.40 billion, a price-to-earnings ratio of 21.42 and a beta of 1.40. The stock’s 50 day moving average is $36.71 and its two-hundred day moving average is $37.04. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. Analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Super Micro Computer

In other news, CFO David E. Weigand sold 67,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the transaction, the chief financial officer now directly owns 88,599 shares of the company’s stock, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eastern Bank acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at $29,000. Parkside Financial Bank & Trust boosted its position in shares of Super Micro Computer by 2,890.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock valued at $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC increased its stake in Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after purchasing an additional 893 shares in the last quarter. AlphaQuest LLC lifted its stake in Super Micro Computer by 233.0% during the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company’s stock valued at $33,000 after buying an additional 762 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Super Micro Computer in the fourth quarter worth approximately $33,000. 84.06% of the stock is 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.