Super Micro Computer (SMCI) Trading Down 6.1%

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped 6.1% during mid-day trading on Thursday . The company traded as low as $18.60 and last traded at $18.60. Approximately 560,832 shares were traded during trading, a decline of 3% from the average daily volume of 579,590 shares. The stock had previously closed at $19.80.

SMCI has been the subject of a number of research reports. Wells Fargo & Co initiated coverage on Super Micro Computer in a report on Tuesday, November 14th. They set a “market perform” rating and a $20.00 price objective for the company. BidaskClub downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Maxim Group increased their price objective on Super Micro Computer from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Super Micro Computer from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.75.

The company has a current ratio of 2.34, a quick ratio of 1.15 and a debt-to-equity ratio of 0.12. The stock has a market cap of $951.95, a PE ratio of 13.88, a P/E/G ratio of 1.01 and a beta of -0.15.

A number of hedge funds and other institutional investors have recently modified their holdings of SMCI. Wells Fargo & Company MN boosted its position in Super Micro Computer by 13.9% during the second quarter. Wells Fargo & Company MN now owns 115,467 shares of the technology company’s stock valued at $2,847,000 after purchasing an additional 14,057 shares during the last quarter. Alliancebernstein L.P. boosted its position in Super Micro Computer by 4.8% during the second quarter. Alliancebernstein L.P. now owns 50,464 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 2,300 shares during the last quarter. Teachers Advisors LLC boosted its position in Super Micro Computer by 7.6% during the second quarter. Teachers Advisors LLC now owns 95,667 shares of the technology company’s stock valued at $2,358,000 after purchasing an additional 6,755 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Super Micro Computer by 0.3% during the second quarter. TIAA CREF Investment Management LLC now owns 155,441 shares of the technology company’s stock valued at $3,832,000 after purchasing an additional 521 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Super Micro Computer by 53.5% during the second quarter. Ameriprise Financial Inc. now owns 302,475 shares of the technology company’s stock valued at $7,456,000 after purchasing an additional 105,433 shares during the last quarter. 79.55% of the stock is owned by hedge funds and other institutional investors.

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About Super Micro Computer

Super Micro Computer, Inc is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.

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