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

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $33.48, but opened at $31.86. Super Micro Computer shares last traded at $33.58, with a volume of 7,530,820 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lowered Super Micro Computer from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $40.00 to $32.00 in a research report on Monday, March 24th. JPMorgan Chase & Co. upgraded shares of Super Micro Computer from an “underweight” rating to a “neutral” rating and raised their price target for the company from $35.00 to $45.00 in a research note on Friday, March 21st. Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Finally, Barclays initiated coverage on Super Micro Computer in a report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price on the stock. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.00.

Super Micro Computer Trading Down 0.9 %

The company has a 50 day moving average of $40.18 and a 200 day moving average of $36.70. The firm has a market cap of $19.69 billion, a P/E ratio of 16.66 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Insider Activity

In other news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction that occurred 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 transaction, the senior vice president now owns 19,449 shares of the company’s stock, valued at $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of Super Micro Computer 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. In the last 90 days, insiders have sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently made changes to their positions in SMCI. Polianta Ltd bought a new position in Super Micro Computer in the 1st quarter worth approximately $979,000. Fifth Third Bancorp raised its stake in Super Micro Computer by 73.8% during the 1st quarter. Fifth Third Bancorp now owns 21,323 shares of the company’s stock valued at $730,000 after purchasing an additional 9,057 shares during the last quarter. Rowlandmiller & PARTNERS.ADV raised its position in shares of Super Micro Computer by 51.9% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 85,525 shares of the company’s stock valued at $2,928,000 after buying an additional 29,225 shares during the last quarter. CX Institutional acquired a new position in shares of Super Micro Computer in the first quarter valued at $104,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Super Micro Computer by 96.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 163,777 shares of the company’s stock worth $5,608,000 after purchasing an additional 80,371 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.