Super Micro Computer (NASDAQ:SMCI) Shares Gap Down After Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped down before the market opened on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $67.50 to $28.00. The stock had previously closed at $27.70, but opened at $20.97. The Goldman Sachs Group currently has a neutral rating on the stock. Super Micro Computer shares last traded at $20.93, with a volume of 23,633,508 shares changing hands.

A number of other research analysts also recently weighed in on SMCI. Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. Loop Capital reduced their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Needham & Company LLC began coverage on Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $23.00 in a research report on Wednesday. Finally, Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Super Micro Computer currently has an average rating of “Hold” and an average target price of $66.89.

Institutional Trading of Super Micro Computer

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

Super Micro Computer Price Performance

The business’s fifty day moving average price is $43.36 and its 200-day moving average price is $65.69. The company has a market capitalization of $12.70 billion, a P/E ratio of 11.40 and a beta of 1.28. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

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