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

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down prior to trading on Monday . The stock had previously closed at $32.60, but opened at $30.84. Super Micro Computer shares last traded at $29.56, with a volume of 10,801,152 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on SMCI. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Barclays reduced their price target on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Loop Capital reduced their price target on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, The Goldman Sachs Group reduced their price target on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Trading Down 5.7 %

The company has a market cap of $17.19 billion, a P/E ratio of 15.43 and a beta of 1.31. The business has a fifty day moving average price of $32.02 and a 200-day moving average price of $48.55. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kieckhefer Group LLC acquired a new stake in shares of Super Micro Computer in the fourth quarter valued at approximately $43,000. Resources Management Corp CT ADV raised its position in shares of Super Micro Computer by 100.0% in the second 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 in the last quarter. Rise Advisors LLC raised its position in shares of Super Micro Computer by 909.5% in the fourth quarter. Rise Advisors LLC now owns 1,696 shares of the company’s stock valued at $52,000 after buying an additional 1,528 shares in the last quarter. Clear Point Advisors Inc. raised its position in shares of Super Micro Computer by 471.4% in the second quarter. Clear Point Advisors Inc. now owns 80 shares of the company’s stock valued at $66,000 after buying an additional 66 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Super Micro Computer in the third quarter valued at approximately $87,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.