Super Micro Computer (NASDAQ:SMCI) Trading Down 25.4% on Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price traded down 25.4% on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $67.50 to $28.00. The Goldman Sachs Group currently has a neutral rating on the stock. Super Micro Computer traded as low as $20.20 and last traded at $20.66. 56,023,266 shares traded hands during trading, a decline of 31% from the average session volume of 80,633,508 shares. The stock had previously closed at $27.70.

A number of other equities analysts have also issued reports on SMCI. Nomura lowered Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a report on Wednesday, July 10th. Mizuho assumed coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price target for the company. Needham & Company LLC began coverage on Super Micro Computer in a report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target on the stock. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Finally, Bank of America cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and an average price target of $66.89.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LJI Wealth Management LLC acquired a new stake in Super Micro Computer during the 3rd quarter valued at $1,200,000. Mizuho Securities USA LLC lifted its stake in Super Micro Computer by 542.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 25,628 shares of the company’s stock worth $10,671,000 after acquiring an additional 21,638 shares in the last quarter. Mizuho Markets Cayman LP acquired a new stake in Super Micro Computer during the 3rd quarter worth about $300,000. Archer Investment Corp boosted its position in Super Micro Computer by 364.2% during the 3rd quarter. Archer Investment Corp now owns 571 shares of the company’s stock worth $238,000 after acquiring an additional 448 shares during the period. Finally, Empowered Funds LLC grew its stake in Super Micro Computer by 435.0% during the 3rd quarter. Empowered Funds LLC now owns 8,870 shares of the company’s stock valued at $3,693,000 after acquiring an additional 7,212 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Stock Down 18.1 %

The business has a fifty day moving average price of $43.36 and a two-hundred day moving average price of $65.69. 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 $12.70 billion, a price-to-earnings ratio of 11.40 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business earned $0.34 EPS. The company’s quarterly revenue was up 142.9% on a year-over-year basis. On average, equities analysts predict that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.

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.