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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $42.15, but opened at $40.81. Super Micro Computer shares last traded at $41.39, with a volume of 14,455,115 shares changing hands.

Analysts Set New Price Targets

SMCI has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $40.00 to $32.00 in a research note on Monday. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, February 11th. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Rosenblatt Securities started coverage on shares of Super Micro Computer in a research note on Monday, March 10th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.00.

Super Micro Computer Price Performance

The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 20.40 and a beta of 1.21. The company’s fifty day moving average is $39.07 and its 200 day moving average is $37.83. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 in the last three months. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Super Micro Computer by 461.9% in the fourth quarter. Wellington Management Group LLP now owns 37,133 shares of the company’s stock valued at $1,132,000 after purchasing an additional 30,525 shares during the period. California State Teachers Retirement System raised its holdings in Super Micro Computer by 916.9% in the 4th quarter. California State Teachers Retirement System now owns 872,355 shares of the company’s stock valued at $26,589,000 after acquiring an additional 786,568 shares during the period. 111 Capital acquired a new stake in Super Micro Computer during the fourth quarter worth approximately $338,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Super Micro Computer by 515.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,535 shares of the company’s stock worth $656,000 after acquiring an additional 18,038 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Super Micro Computer in the fourth quarter valued at approximately $206,000. 84.06% of the stock is owned by 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.