Super Micro Computer (NASDAQ:SMCI) Shares Down 1.2% Following Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price fell 1.2% during trading on Friday 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 $31.50. 26,880,541 shares changed hands during trading, a decline of 63% from the average session volume of 73,159,649 shares. The stock had previously closed at $31.89.

Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a research note on Friday, February 28th. Rosenblatt Securities assumed coverage on Super Micro Computer in a research report on Monday, March 10th. They set a “buy” rating and a $60.00 price target on the stock. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Barclays began coverage on Super Micro Computer in a report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price on the stock. Finally, Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a report on Thursday, March 6th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $52.57.

Insiders Place Their Bets

In related news, SVP George Kao sold 71,720 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Liang sold 46,293 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at approximately $3,381,640,618.80. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently bought and sold shares of the company. Clear Creek Financial Management LLC purchased a new position in Super Micro Computer in the fourth quarter worth about $635,000. Nepsis Inc. purchased a new position in Super Micro Computer in the 4th quarter worth approximately $13,625,000. Fifth Third Bancorp lifted its position in Super Micro Computer by 1,476.6% in the 4th quarter. Fifth Third Bancorp now owns 12,266 shares of the company’s stock valued at $374,000 after acquiring an additional 11,488 shares in the last quarter. Oak Thistle LLC purchased a new stake in Super Micro Computer during the 4th quarter valued at $277,000. Finally, Diversify Advisory Services LLC bought a new stake in shares of Super Micro Computer in the 4th quarter worth $5,113,000. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a market cap of $18.69 billion, a PE ratio of 15.81 and a beta of 1.22. The company has a 50 day moving average price of $39.73 and a two-hundred day moving average price of $36.57.

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.