Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – What’s Next?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $42.15, but opened at $40.81. Super Micro Computer shares last traded at $41.39, with a volume of 14,455,115 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SMCI. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and cut their price target for the company from $40.00 to $32.00 in a report on Monday. Rosenblatt Securities initiated coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They issued a “buy” rating and a $60.00 price target for the company. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised Super Micro Computer from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $45.00 in a research report on Friday, March 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Super Micro Computer Stock Down 2.6 %

The stock has a market cap of $24.12 billion, a P/E ratio of 20.40 and a beta of 1.21. 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 business has a 50-day simple moving average of $39.07 and a 200-day simple moving average of $37.83.

Insiders Place Their Bets

In other news, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the sale, the senior vice president now owns 19,449 shares in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock valued at $6,771,552 in the last quarter. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its stake in Super Micro Computer by 2.3% in the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after buying an additional 258 shares in the last quarter. Wahed Invest LLC boosted its stake in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock valued at $377,000 after purchasing an additional 352 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Super Micro Computer by 22.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock valued at $1,090,000 after purchasing an additional 478 shares in the last quarter. Shelton Capital Management increased its position in shares of Super Micro Computer by 6.5% during the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock worth $240,000 after purchasing an additional 480 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Super Micro Computer by 22.5% during the 3rd quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock valued at $1,127,000 after purchasing an additional 497 shares during 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.