Super Micro Computer (NASDAQ:SMCI) Stock Price Down 1.2% – What’s Next?

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

Analyst Ratings Changes

Several research firms have weighed in on SMCI. Citigroup initiated coverage on Super Micro Computer in a report on Tuesday, May 6th. They set a “neutral” rating and a $39.00 target price on the stock. Rosenblatt Securities decreased their price target on Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Finally, Wall Street Zen upgraded Super Micro Computer to a “sell” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and a consensus price target of $45.63.

Super Micro Computer Stock Performance

The company has a 50 day moving average of $36.71 and a two-hundred day moving average of $37.04. The company has a market capitalization of $25.40 billion, a PE ratio of 21.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The company 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 earned $0.66 earnings per share. Super Micro Computer’s revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO David E. Weigand sold 67,000 shares of the business’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 transaction, the chief financial officer now owns 88,599 shares of the company’s stock, valued at approximately $3,900,127.98. The trade was a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in Super Micro Computer during the 1st quarter valued at about $29,000. Parkside Financial Bank & Trust raised its stake in shares of Super Micro Computer by 2,890.9% during 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 in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares during the period. AlphaQuest LLC grew its stake in Super Micro Computer by 233.0% in the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company’s stock worth $33,000 after purchasing an additional 762 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in Super Micro Computer during the 4th quarter worth $33,000. 84.06% of the stock is currently owned by institutional investors.

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.