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 $21.70, but opened at $21.01. Super Micro Computer shares last traded at $21.18, with a volume of 9,832,622 shares.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Bank of America cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Down 11.4 %

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 has a market capitalization of $10.07 billion, a PE ratio of 9.04 and a beta of 1.28. The business’s 50-day simple moving average is $40.61 and its 200-day simple moving average is $63.43.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Super Micro Computer by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $1,325,466,000. International Assets Investment Management LLC increased its holdings in shares of Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after purchasing an additional 915,058 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Super Micro Computer by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Bridgewater Associates LP increased its holdings in shares of Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after purchasing an additional 145,327 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other 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.