Super Micro Computer (NASDAQ:SMCI) Shares Gap Down to $562.51

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down prior to trading on Tuesday . The stock had previously closed at $562.51, but opened at $518.90. Super Micro Computer shares last traded at $535.63, with a volume of 3,469,487 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMCI shares. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $1,090.00 to $700.00 in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their price target on Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price objective on Super Micro Computer from $775.00 to $675.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Susquehanna lifted their price objective on Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a report on Monday, July 15th. Finally, Nomura lowered Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 price objective for the company. in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $840.36.

Super Micro Computer Stock Performance

The firm has a market cap of $24.81 billion, a PE ratio of 24.86, a PEG ratio of 0.71 and a beta of 1.27. The business has a 50-day simple moving average of $725.34 and a 200 day simple moving average of $837.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer’s stock is scheduled to split before the market opens on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly minted shares will be payable to shareholders after the market closes on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.63 by ($1.38). The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. Super Micro Computer’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.43 earnings per share. Equities research analysts forecast that Super Micro Computer, Inc. will post 28.5 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the sale, the director now directly owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Super Micro Computer by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after purchasing an additional 1,265,542 shares during the period. GQG Partners LLC purchased a new position in Super Micro Computer during the 1st quarter worth $1,325,466,000. Dimensional Fund Advisors LP increased its holdings in Super Micro Computer by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after purchasing an additional 2,011 shares during the period. Norges Bank purchased a new position in Super Micro Computer during the 4th quarter worth $95,211,000. Finally, Principal Financial Group Inc. increased its holdings in Super Micro Computer by 4.8% during the 4th quarter. Principal Financial Group Inc. now owns 326,359 shares of the company’s stock worth $92,771,000 after purchasing an additional 14,959 shares during the period. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Company Profile

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.