Super Micro Computer (NASDAQ:SMCI) Trading Down 4.6% – Should You Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were down 4.6% on Friday . The stock traded as low as $32.08 and last traded at $32.20. Approximately 10,426,943 shares were traded during trading, a decline of 87% from the average daily volume of 82,438,508 shares. The stock had previously closed at $33.74.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMCI. Wedbush restated a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Mizuho began coverage on Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. The Goldman Sachs Group dropped their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Down 5.2 %

The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 16.05 and a beta of 1.29. The firm has a 50-day moving average of $33.91 and a 200 day moving average of $52.57. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

A number of large investors have recently added to or reduced their stakes in SMCI. Rakuten Securities Inc. boosted its position in Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after buying an additional 61,071 shares during the last quarter. Assetmark Inc. boosted its holdings in Super Micro Computer by 164.8% in the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after purchasing an additional 93,569 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Super Micro Computer by 254.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after purchasing an additional 21,997 shares in the last quarter. Bridgewater Associates LP increased its holdings in Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after purchasing an additional 145,327 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Super Micro Computer by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after purchasing an additional 29,697 shares in the last quarter. 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.