Super Micro Computer (NASDAQ:SMCI) Shares Down 1.4% on Analyst Downgrade

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 1.4% during trading on Tuesday after Loop Capital lowered their price target on the stock from $1,500.00 to $1,000.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as low as $452.26 and last traded at $459.26. Approximately 2,348,552 shares changed hands during trading, a decline of 72% from the average daily volume of 8,266,440 shares. The stock had previously closed at $465.94.

Several other equities analysts have also recently weighed in on SMCI. Nomura cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 target price for the company. in a research note on Wednesday, July 10th. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $950.00 to $500.00 in a report on Friday, September 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,300.00 price target on shares of Super Micro Computer in a report on Wednesday, August 7th. Finally, Cfra reiterated a “hold” rating and issued a $454.00 target price (down previously from $729.00) on shares of Super Micro Computer in a research report on Wednesday, August 28th. 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $725.63.

Institutional Investors Weigh In On Super Micro Computer

Large investors have recently bought and sold shares of the stock. Sound Income Strategies LLC grew 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 valued at $104,000 after acquiring an additional 13 shares during the period. Invst LLC increased its stake in Super Micro Computer by 4.3% during the 1st quarter. Invst LLC now owns 337 shares of the company’s stock valued at $350,000 after purchasing an additional 14 shares in the last quarter. Byrne Asset Management LLC raised its holdings in Super Micro Computer by 10.4% during the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after buying an additional 14 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Super Micro Computer by 42.9% in the first quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock valued at $51,000 after buying an additional 15 shares in the last quarter. Finally, TFC Financial Management Inc. grew its holdings in shares of Super Micro Computer by 23.1% during the first quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock valued at $81,000 after buying an additional 15 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Trading Down 1.4 %

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 company has a market capitalization of $25.69 billion, a P/E ratio of 25.74 and a beta of 1.24. The firm’s 50-day moving average price is $569.90 and its 200 day moving average price is $777.22.

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

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

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.