Super Micro Computer (NASDAQ:SMCI) Stock Price Down 25.4% Following Analyst Downgrade

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 25.4% during mid-day trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $67.50 to $28.00. The Goldman Sachs Group currently has a neutral rating on the stock. Super Micro Computer traded as low as $20.20 and last traded at $20.66. Approximately 56,023,266 shares traded hands during trading, a decline of 31% from the average daily volume of 80,633,508 shares. The stock had previously closed at $27.70.

A number of other research firms also recently issued reports on SMCI. Susquehanna increased their target price on shares of Super Micro Computer from $28.50 to $32.50 and gave the stock a “negative” rating in a research report on Monday, July 15th. Loop Capital dropped their price objective on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Needham & Company LLC started coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Finally, Nomura lowered Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $66.89.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds have recently bought and sold shares of SMCI. Acadian Asset Management LLC purchased a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $98,000. Vanguard Group Inc. raised its holdings in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after acquiring an additional 1,265,542 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Super Micro Computer by 168.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,592 shares of the company’s stock valued at $59,180,000 after acquiring an additional 36,795 shares during the last quarter. SG Americas Securities LLC grew its holdings in Super Micro Computer by 24.8% during the 2nd quarter. SG Americas Securities LLC now owns 15,432 shares of the company’s stock worth $12,644,000 after acquiring an additional 3,064 shares in the last quarter. Finally, SlateStone Wealth LLC bought a new stake in shares of Super Micro Computer in the 2nd quarter worth about $683,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Price Performance

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $43.36 and its two-hundred day moving average price is $65.69. The company has a market cap of $12.70 billion, a P/E ratio of 11.40 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 142.9% compared to the same quarter last year. As a group, sell-side analysts expect that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.

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.