Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – Should You Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down before the market opened on Friday . The stock had previously closed at $35.07, but opened at $32.97. Super Micro Computer shares last traded at $32.26, with a volume of 16,366,785 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $50.00 to $23.00 in a research report on Wednesday, November 6th. Needham & Company LLC began coverage on shares of Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 target price on the stock. Cfra reissued a “hold” rating and set a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Mizuho assumed coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price target for the company. Finally, Bank of America downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Performance

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 cap of $18.23 billion, a PE ratio of 16.28 and a beta of 1.28. The firm’s 50-day simple moving average is $37.70 and its two-hundred day simple moving average is $59.71.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently made changes to their positions in SMCI. International Assets Investment Management LLC grew its stake in Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after purchasing an additional 915,058 shares during the last quarter. Bridgewater Associates LP boosted its position in Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after buying an additional 145,327 shares during the last quarter. Van ECK Associates Corp increased its holdings in Super Micro Computer by 1,169.5% in the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock worth $56,077,000 after buying an additional 124,062 shares during the period. American Century Companies Inc. raised its position in Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock worth $108,035,000 after buying an additional 110,308 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Super Micro Computer by 1,730.3% during the 3rd quarter. Inspire Investing LLC now owns 107,421 shares of the company’s stock valued at $44,730,000 after acquiring an additional 101,552 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

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.