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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $33.48, but opened at $31.86. Super Micro Computer shares last traded at $33.58, with a volume of 7,530,820 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on SMCI shares. Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Super Micro Computer from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday. Barclays initiated coverage on shares of Super Micro Computer in a report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 price target on the stock. Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.57.

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 firm’s 50 day simple moving average is $39.87 and its 200 day simple moving average is $36.64. The firm has a market cap of $18.69 billion, a PE ratio of 15.81 and a beta of 1.22.

Insiders Place Their Bets

In other news, SVP George Kao sold 71,720 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock valued at $6,771,552 in the last quarter. 17.60% of the stock is currently owned by insiders.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of SMCI. Salem Investment Counselors Inc. bought a new position in Super Micro Computer during the fourth quarter valued at $30,000. Trust Co. of Vermont boosted its position in shares of Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 900 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock valued at $30,000 after buying an additional 954 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in shares of Super Micro Computer during the 4th quarter worth approximately $31,000. Hedge funds and other 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.