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

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped down before the market opened on Thursday . The stock had previously closed at $60.25, but opened at $57.21. Super Micro Computer shares last traded at $56.70, with a volume of 47,847,932 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SMCI shares. Northland Securities reiterated an “outperform” rating and set a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Argus lowered Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Loop Capital raised their target price on Super Micro Computer from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised their target price on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.20.

Super Micro Computer Stock Down 5.4 %

The business’s fifty day moving average price is $35.23 and its 200 day moving average price is $39.97. 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 capitalization of $32.83 billion, a PE ratio of 28.15 and a beta of 1.30.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. purchased a new position in Super Micro Computer during the fourth quarter worth about $30,000. Trust Co. of Vermont raised its holdings in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC grew its position in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares during the period. Finally, Toth Financial Advisory Corp acquired a new position in Super Micro Computer during the fourth quarter worth about $31,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.