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

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped down before the market opened on Monday . The stock had previously closed at $32.60, but opened at $30.84. Super Micro Computer shares last traded at $29.56, with a volume of 10,801,152 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMCI. The Goldman Sachs Group lowered their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Loop Capital lowered 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. Wedbush restated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Down 5.7 %

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 cap of $17.19 billion, a P/E ratio of 15.43 and a beta of 1.31. The firm’s 50 day moving average is $32.02 and its two-hundred day moving average is $48.55.

Institutional Trading of Super Micro Computer

Institutional investors have recently modified their holdings of the business. Resources Management Corp CT ADV grew its stake in shares of Super Micro Computer by 100.0% in the second quarter. Resources Management Corp CT ADV now owns 60 shares of the company’s stock worth $49,000 after purchasing an additional 30 shares during the last quarter. Clear Point Advisors Inc. grew its stake in shares of Super Micro Computer by 471.4% in the second quarter. Clear Point Advisors Inc. now owns 80 shares of the company’s stock worth $66,000 after purchasing an additional 66 shares during the last quarter. Quarry LP boosted its position in Super Micro Computer by 5,850.0% during the second quarter. Quarry LP now owns 119 shares of the company’s stock valued at $98,000 after acquiring an additional 117 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Super Micro Computer during the third quarter valued at $87,000. Finally, Optimist Retirement Group LLC boosted its position in Super Micro Computer by 27.1% during the second quarter. Optimist Retirement Group LLC now owns 258 shares of the company’s stock valued at $211,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.

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.