Super Micro Computer (NASDAQ:SMCI) Trading Down 3.4% on Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 3.4% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $45.00 to $39.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Super Micro Computer traded as low as $30.44 and last traded at $30.82. Approximately 10,005,748 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 73,091,098 shares. The stock had previously closed at $31.89.

SMCI has been the topic of several other reports. The Goldman Sachs Group lowered Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price target for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Barclays assumed coverage on shares of Super Micro Computer in a research note on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price for the company. Finally, Northland Securities set a $70.00 price target on Super Micro Computer in a research report on Thursday, March 6th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.57.

Insider Transactions at Super Micro Computer

In related news, SVP George Kao sold 71,720 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares in the company, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock worth $6,771,552 in the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after purchasing an additional 55,845,073 shares during the period. Geode Capital Management LLC grew its stake in shares of Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after acquiring an additional 11,580,677 shares during the period. FMR LLC bought a new position in shares of Super Micro Computer during the 4th quarter valued at approximately $292,869,000. Invesco Ltd. increased its holdings in Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after acquiring an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Super Micro Computer by 1,573.8% during the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after acquiring an additional 4,605,260 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Price Performance

The firm has a market cap of $18.69 billion, a PE ratio of 15.81 and a beta of 1.22. The firm’s fifty day simple moving average is $39.87 and its two-hundred day simple moving average is $36.64. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

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.