Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $28.27, but opened at $27.29. Super Micro Computer shares last traded at $26.28, with a volume of 31,155,459 shares.

Analyst Ratings Changes

SMCI has been the topic of several analyst reports. Barclays reduced their target price on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital cut their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. 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 report on Monday, November 4th. Finally, Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and cut their price target for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Up 13.8 %

The stock has a market capitalization of $16.42 billion, a P/E ratio of 14.74 and a beta of 1.28. 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 firm’s fifty day moving average is $38.45 and its 200-day moving average is $61.16.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently made changes to their positions in SMCI. Acadian Asset Management LLC bought a new position in shares of Super Micro Computer in the 1st quarter valued at about $98,000. Edgestream Partners L.P. acquired a new stake in Super Micro Computer during the first quarter worth about $424,000. Bessemer Group Inc. increased its stake in Super Micro Computer by 944.7% in the first quarter. Bessemer Group Inc. now owns 397 shares of the company’s stock valued at $401,000 after acquiring an additional 359 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Super Micro Computer by 1,450.0% in the 1st quarter. Advisors Asset Management Inc. now owns 1,240 shares of the company’s stock valued at $1,252,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Super Micro Computer by 398.2% during the first quarter. Toronto Dominion Bank now owns 30,866 shares of the company’s stock worth $31,176,000 after acquiring an additional 24,671 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

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.