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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $60.25, but opened at $57.21. Super Micro Computer shares last traded at $56.70, with a volume of 47,847,932 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SMCI. Loop Capital boosted their price objective on Super Micro Computer from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. Wedbush boosted their target price on Super Micro Computer from $24.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group decreased their target price on Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer currently has a consensus rating of “Hold” and a consensus price target of $60.20.

Super Micro Computer Stock Performance

The company has a market cap of $32.83 billion, a P/E ratio of 28.15 and a beta of 1.30. The firm has a 50 day moving average of $35.23 and a 200-day moving average of $39.97. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Super Micro Computer by 908.4% during the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC boosted its position in Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after acquiring an additional 11,580,677 shares in the last quarter. FMR LLC bought a new stake in Super Micro Computer during the 4th quarter valued at $292,869,000. Invesco Ltd. boosted its position in Super Micro Computer by 929.5% during the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after acquiring an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Super Micro Computer by 1,573.8% during the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after acquiring an additional 4,605,260 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

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.