Super Micro Computer (NASDAQ:SMCI) Stock Price Down 2.6% – Here’s What Happened

by · The Markets Daily

Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report)’s stock price dropped 2.6% during mid-day trading on Tuesday . The stock traded as low as $46.52 and last traded at $46.58. Approximately 10,083,920 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 80,581,008 shares. The stock had previously closed at $47.80.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC started coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price for the company. The Goldman Sachs Group dropped their price objective on Super Micro Computer from $77.50 to $67.50 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Super Micro Computer in a report on Wednesday, August 7th. Susquehanna upped their price target on shares of Super Micro Computer from $28.50 to $32.50 and gave the company a “negative” rating in a report on Monday, July 15th. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Super Micro Computer in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.53.

Get Our Latest Report on Super Micro Computer

Super Micro Computer Trading Down 4.3 %

The company’s 50 day simple moving average is $48.05 and its two-hundred day simple moving average is $69.91. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 2.54 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Super Micro Computer (NASDAQ:SMCI – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business posted $0.34 EPS. Super Micro Computer’s revenue for the quarter was up 142.9% on a year-over-year basis. Research analysts expect that Super Micro Computer, Inc. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SMCI. Park Avenue Securities LLC bought a new position in Super Micro Computer in the 1st quarter worth $690,000. Ballentine Partners LLC acquired a new position in shares of Super Micro Computer during the first quarter worth approximately $253,000. Gateway Investment Advisers LLC bought a new stake in shares of Super Micro Computer in the first quarter valued at approximately $499,000. Arkfeld Wealth Strategies L.L.C. acquired a new stake in shares of Super Micro Computer in the first quarter worth $566,000. Finally, Sound Income Strategies LLC increased its position in Super Micro Computer by 14.4% during the first quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock worth $104,000 after acquiring an additional 13 shares during the period. 84.06% of the stock is owned by institutional investors.

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.

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