Super Micro Computer (NASDAQ:SMCI) Trading Down 2%

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 2% on Tuesday . The stock traded as low as $513.50 and last traded at $551.44. Approximately 6,258,660 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 8,210,008 shares. The stock had previously closed at $562.51.

Analysts Set New Price Targets

A number of research firms recently commented on SMCI. JPMorgan Chase & Co. cut their price objective on Super Micro Computer from $1,150.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Cfra restated a “hold” rating and issued a $454.00 price target (down previously from $729.00) on shares of Super Micro Computer in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of Super Micro Computer from $775.00 to $675.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,300.00 price objective on shares of Super Micro Computer in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and an average price target of $840.36.

Super Micro Computer Stock Performance

The company’s fifty day moving average is $725.34 and its 200 day moving average is $837.06. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $24.81 billion, a P/E ratio of 24.86, a P/E/G ratio of 0.71 and a beta of 1.27.

Super Micro Computer shares are set to split on the morning of Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly minted shares will be distributed to shareholders after the market closes on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.63 by ($1.38). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm posted $3.43 earnings per share. The business’s revenue was up 142.9% on a year-over-year basis. As a group, equities analysts anticipate that Super Micro Computer, Inc. will post 28.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Daniel W. Fairfax sold 300 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the sale, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.60% of the stock is currently owned by insiders.

Institutional Trading of Super Micro Computer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in shares of Super Micro Computer during the 1st quarter valued at about $98,000. Vanguard Group Inc. lifted its stake in shares of Super Micro Computer by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares during the period. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Super Micro Computer during the first quarter valued at approximately $1,423,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Super Micro Computer by 168.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,592 shares of the company’s stock valued at $59,180,000 after buying an additional 36,795 shares during the period. Finally, Nordea Investment Management AB lifted its position in Super Micro Computer by 1,516.8% during the 1st quarter. Nordea Investment Management AB now owns 55,328 shares of the company’s stock valued at $56,420,000 after acquiring an additional 51,906 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

About Super Micro Computer

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.