Super Micro Computer (NASDAQ:SMCI) Shares Gap Down - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares 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 trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC assumed coverage on Super Micro Computer in a research report on Wednesday, September 18th. They issued a "buy" rating and a $60.00 target price on the stock. Loop Capital lowered their price objective on Super Micro Computer from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, September 23rd. Cfra reissued a "hold" rating and issued a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. The Goldman Sachs Group dropped their price objective on shares of Super Micro Computer from $67.50 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company decreased 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 research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.89.

Super Micro Computer Trading Down 8.2 %

The stock has a market capitalization of $14.51 billion, a PE ratio of 13.47 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 firm has a 50-day moving average price of $39.06 and a 200-day moving average price of $61.75.

Institutional Trading of Super Micro Computer

Several hedge funds have recently made changes to their positions in SMCI. International Assets Investment Management LLC lifted its holdings in shares of Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company's stock worth $381,629,000 after buying an additional 915,058 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company's stock worth $67,084,000 after purchasing an additional 145,327 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Super Micro Computer by 1,169.5% during the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company's stock valued at $56,077,000 after buying an additional 124,062 shares in the last quarter. American Century Companies Inc. lifted its position in Super Micro Computer by 511.9% in the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company's stock worth $108,035,000 after buying an additional 110,308 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Super Micro Computer by 1,730.3% in the 3rd quarter. Inspire Investing LLC now owns 107,421 shares of the company's stock valued at $44,730,000 after purchasing an additional 101,552 shares in 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.

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