Super Micro Computer (NASDAQ:SMCI) Shares Gap Down on Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down prior to trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $67.50 to $28.00. The stock had previously closed at $27.70, but opened at $20.97. The Goldman Sachs Group currently has a neutral rating on the stock. Super Micro Computer shares last traded at $20.93, with a volume of 23,633,508 shares.

A number of other brokerages have also recently commented on SMCI. Barclays reduced their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Mizuho assumed coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $45.00 target price on the stock. Nomura Securities cut shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Nomura lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research report on Wednesday, July 10th. Finally, Cfra reaffirmed a “hold” rating and set a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and an average price target of $66.89.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently modified their holdings of SMCI. Invst LLC increased its position in shares of Super Micro Computer by 4.3% during the 1st quarter. Invst LLC now owns 337 shares of the company’s stock worth $350,000 after purchasing an additional 14 shares during the last quarter. Byrne Asset Management LLC increased its position in shares of Super Micro Computer by 10.4% during the second quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock valued at $132,000 after acquiring an additional 14 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Super Micro Computer by 30.0% in the 2nd quarter. Versant Capital Management Inc now owns 65 shares of the company’s stock valued at $53,000 after acquiring an additional 15 shares during the period. Forum Financial Management LP lifted its holdings in shares of Super Micro Computer by 0.8% in the 1st quarter. Forum Financial Management LP now owns 1,943 shares of the company’s stock worth $1,962,000 after acquiring an additional 16 shares during the last quarter. Finally, Fielder Capital Group LLC lifted its holdings in shares of Super Micro Computer by 2.8% in the 2nd quarter. Fielder Capital Group LLC now owns 580 shares of the company’s stock worth $475,000 after acquiring an additional 16 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Price Performance

The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 11.40 and a beta of 1.28. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average is $43.36 and its two-hundred day moving average is $65.69.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 142.9% on a year-over-year basis. As a group, research analysts predict that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.

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.