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 Wednesday . The stock had previously closed at $28.27, but opened at $27.29. Super Micro Computer shares last traded at $26.28, with a volume of 31,155,459 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SMCI shares. Wedbush restated a “neutral” rating and set a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Wells Fargo & Company dropped their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Cfra restated a “hold” rating and issued a $45.40 price target (down from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Mizuho started coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $50.00 to $23.00 in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Performance

The firm has a market capitalization of $14.51 billion, a P/E ratio of 13.47 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a 50-day moving average price of $39.06 and a two-hundred day moving average price of $61.75.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in shares of Super Micro Computer during the 1st quarter worth $98,000. Edgestream Partners L.P. bought a new position in shares of Super Micro Computer during the first quarter valued at approximately $424,000. Bessemer Group Inc. raised its stake in Super Micro Computer by 944.7% in the first quarter. Bessemer Group Inc. now owns 397 shares of the company’s stock worth $401,000 after buying an additional 359 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in Super Micro Computer during the first quarter worth $236,000. Finally, Delap Wealth Advisory LLC purchased a new position in shares of Super Micro Computer in the 1st quarter valued at $201,000. 84.06% of the stock is currently owned by institutional investors.

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.