Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $47.29, but opened at $45.80. Super Micro Computer shares last traded at $45.23, with a volume of 13,775,361 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SMCI shares. Barclays lowered their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Nomura Securities lowered Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Wells Fargo & Company reduced their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Cfra restated a “hold” rating and issued a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Finally, Bank of America lowered Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.45.

Super Micro Computer Stock Up 2.9 %

The company has a market capitalization of $26.74 billion, a PE ratio of 24.00 and a beta of 1.23. 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 business has a fifty day moving average of $49.04 and a 200 day moving average of $72.63.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing the consensus estimate 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 business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the business posted $0.34 EPS. The company’s revenue for the quarter was up 142.9% compared to the same quarter last year. Equities research analysts anticipate that Super Micro Computer, Inc. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Super Micro Computer

Several large investors have recently bought and sold shares of the stock. Sound Income Strategies LLC lifted its stake in Super Micro Computer by 14.4% in the first quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock worth $104,000 after acquiring an additional 13 shares during the last quarter. Invst LLC increased its holdings in Super Micro Computer by 4.3% in the first quarter. Invst LLC now owns 337 shares of the company’s stock valued at $350,000 after buying an additional 14 shares during the last quarter. Byrne Asset Management LLC raised its stake in Super Micro Computer by 10.4% in the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock valued at $132,000 after buying an additional 14 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Super Micro Computer by 42.9% during the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after buying an additional 15 shares during the last quarter. Finally, TFC Financial Management Inc. boosted its position in shares of Super Micro Computer by 23.1% during the 1st quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock worth $81,000 after acquiring an additional 15 shares in 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.