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 $40.54, but opened at $38.19. Super Micro Computer shares last traded at $36.64, with a volume of 18,736,222 shares changing hands.

Wall Street Analyst Weigh In

SMCI has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of 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. Wedbush restated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Loop Capital reduced their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Cfra restated a “hold” rating and issued a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Down 0.9 %

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market cap of $21.22 billion, a P/E ratio of 19.04 and a beta of 1.29. The business’s 50 day moving average is $36.89 and its 200-day moving average is $56.23.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently modified their holdings of SMCI. Farmers & Merchants Investments Inc. raised its position in shares of Super Micro Computer by 400.0% during 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 acquired a new stake in shares of Super Micro Computer during the second quarter worth $25,000. Hazlett Burt & Watson Inc. lifted its position in shares of 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 during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Super Micro Computer in the 2nd quarter valued at about $42,000. Finally, Resources Management Corp CT ADV grew its position in shares of Super Micro Computer by 100.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock valued at $49,000 after buying an additional 30 shares during the last quarter. 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.