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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $28.27, but opened at $27.29. Super Micro Computer shares last traded at $26.28, with a volume of 31,155,459 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SMCI shares. StockNews.com lowered Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and cut their target price for the company from $109.00 to $70.00 in a research report on Wednesday, August 7th. Barclays decreased their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. 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 report on Wednesday, August 28th. Finally, Loop Capital decreased their target price on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Up 13.8 %

The company has a market cap of $16.42 billion, a P/E ratio of 14.74 and a beta of 1.28. 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 business’s 50 day moving average is $38.45 and its 200 day moving average is $61.16.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in SMCI. State Street Corp increased its holdings in Super Micro Computer by 4.3% in the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock worth $890,322,000 after acquiring an additional 88,692 shares in the last quarter. Geode Capital Management LLC boosted its stake in Super Micro Computer by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock worth $529,753,000 after buying an additional 16,007 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Super Micro Computer by 3.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock worth $434,500,000 after purchasing an additional 31,064 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Super Micro Computer by 63,634.1% during the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after purchasing an additional 915,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Super Micro Computer by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after acquiring an additional 2,011 shares during the period. Institutional investors and hedge funds 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.