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

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped down prior to trading on Monday . The stock had previously closed at $32.60, but opened at $30.84. Super Micro Computer shares last traded at $29.56, with a volume of 10,801,152 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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 price target on the stock. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Loop Capital reduced their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, Barclays lowered their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

The stock has a market cap of $17.08 billion, a P/E ratio of 15.33 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The firm’s 50 day moving average is $32.18 and its 200 day moving average is $47.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC raised its stake in Super Micro Computer by 1,719.0% in the fourth quarter. Bouvel Investment Partners LLC now owns 46,785 shares of the company’s stock valued at $1,426,000 after buying an additional 44,213 shares during the last quarter. BluePath Capital Management LLC raised its position in shares of Super Micro Computer by 2,415.8% in the 4th quarter. BluePath Capital Management LLC now owns 27,875 shares of the company’s stock valued at $866,000 after purchasing an additional 26,767 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Super Micro Computer in the 4th quarter worth approximately $56,000. Burney Co. grew its position in Super Micro Computer by 547.2% during the 4th quarter. Burney Co. now owns 6,757 shares of the company’s stock worth $206,000 after purchasing an additional 5,713 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Super Micro Computer by 1,266.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,197 shares of the company’s stock valued at $97,000 after purchasing an additional 2,963 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.