Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – Time to Sell?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down prior to trading on Wednesday . The stock had previously closed at $49.12, but opened at $34.85. Super Micro Computer shares last traded at $33.55, with a volume of 30,137,023 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on SMCI. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $109.00 to $70.00 in a research note on Wednesday, August 7th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Super Micro Computer in a research report on Friday, August 2nd. Nomura Securities downgraded Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Nomura lowered Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.53.

Super Micro Computer Trading Down 31.1 %

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 stock has a market capitalization of $18.92 billion, a P/E ratio of 16.99 and a beta of 1.23. The company has a 50-day moving average price of $46.55 and a 200 day moving average price of $67.96.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm 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 firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 142.9% compared to the same quarter last year. On average, research analysts forecast that Super Micro Computer, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Super Micro Computer

Several institutional investors have recently bought and sold shares of SMCI. Brookstone Capital Management purchased a new stake in shares of Super Micro Computer during the 1st quarter valued at $313,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Super Micro Computer during the first quarter worth about $291,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Super Micro Computer by 5.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 106,098 shares of the company’s stock valued at $107,162,000 after acquiring an additional 5,237 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Super Micro Computer by 1.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,270 shares of the company’s stock valued at $1,283,000 after purchasing an additional 16 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Super Micro Computer by 9.3% in the 1st quarter. State of Alaska Department of Revenue now owns 5,478 shares of the company’s stock worth $5,532,000 after purchasing an additional 465 shares in the last quarter. 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.