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

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down before the market opened on Friday . The stock had previously closed at $35.07, but opened at $32.97. Super Micro Computer shares last traded at $32.26, with a volume of 16,366,785 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SMCI shares. Wells Fargo & Company dropped their price target on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $50.00 to $23.00 in a report on Wednesday, November 6th. Loop Capital lowered their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, The Goldman Sachs Group reduced their price objective on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Down 6.9 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 16.39 and a beta of 1.28. The firm has a fifty day moving average price of $37.30 and a 200-day moving average price of $59.22.

Institutional Investors Weigh In On Super Micro Computer

A number of large investors have recently bought and sold shares of SMCI. Synovus Financial Corp acquired a new position in shares of Super Micro Computer in the 3rd quarter valued at approximately $443,000. Tidal Investments LLC raised its position in Super Micro Computer by 143.8% during the third quarter. Tidal Investments LLC now owns 50,355 shares of the company’s stock valued at $20,968,000 after purchasing an additional 29,697 shares in the last quarter. World Investment Advisors LLC lifted its stake in Super Micro Computer by 13,210.5% during the third quarter. World Investment Advisors LLC now owns 56,969 shares of the company’s stock worth $23,722,000 after purchasing an additional 56,541 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after purchasing an additional 21,997 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC bought a new position in shares of Super Micro Computer in the 3rd quarter valued at $1,143,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.