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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $40.54, but opened at $38.19. Super Micro Computer shares last traded at $36.64, with a volume of 18,736,222 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Mizuho initiated coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price for the company. Cfra reaffirmed a “hold” rating and set a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Wedbush reissued a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Needham & Company LLC began coverage on Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Down 7.5 %

The company has a market cap of $20.96 billion, a PE ratio of 18.69 and a beta of 1.29. The stock has a 50 day moving average price of $37.03 and a 200 day moving average price of $56.72. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMCI. Rakuten Securities Inc. lifted its holdings in shares of Super Micro Computer by 391.8% during the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock valued at $31,921,000 after purchasing an additional 61,071 shares during the last quarter. Assetmark Inc. boosted its holdings in Super Micro Computer by 164.8% in the third quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock worth $62,599,000 after acquiring an additional 93,569 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after acquiring an additional 145,327 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Super Micro Computer by 3.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after acquiring an additional 31,064 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of Super Micro Computer by 279.8% in the 3rd quarter. Royal London Asset Management Ltd. now owns 29,483 shares of the company’s stock worth $12,277,000 after purchasing an additional 21,721 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

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.