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

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down prior to trading on Wednesday . The stock had previously closed at $40.54, but opened at $38.19. Super Micro Computer shares last traded at $36.64, with a volume of 18,736,222 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on SMCI. The Goldman Sachs Group decreased their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. 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 objective for the company. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, Loop Capital lowered their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Stock Down 7.5 %

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 has a market cap of $20.96 billion, a P/E ratio of 18.69 and a beta of 1.29. The stock’s fifty day moving average is $37.03 and its two-hundred day moving average is $56.72.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. raised its holdings in shares of Super Micro Computer by 400.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after acquiring an additional 24 shares in the last quarter. Moser Wealth Advisors LLC bought a new stake in Super Micro Computer during the second quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. grew its stake in Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after buying an additional 24 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Super Micro Computer during the 2nd quarter valued at $42,000. Finally, First PREMIER Bank lifted its holdings in shares of Super Micro Computer by 126.1% during the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $43,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.