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

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $32.60, but opened at $30.84. Super Micro Computer shares last traded at $29.56, with a volume of 10,801,152 shares changing hands.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Mizuho initiated coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They set a "neutral" rating and a $45.00 price target on the stock. StockNews.com lowered shares of Super Micro Computer from a "hold" rating to a "sell" rating in a report on Wednesday, October 9th. Northland Capmk upgraded shares of Super Micro Computer to a "strong-buy" rating in a research note on Friday, December 20th. Loop Capital reduced their price objective on Super Micro Computer from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, September 23rd. Finally, Wedbush reissued a "neutral" rating and set a $32.00 target price (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $66.89.

Super Micro Computer Trading Up 1.5 %

The company has a market cap of $17.33 billion, a price-to-earnings ratio of 15.56 and a beta of 1.31. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $32.18 and its two-hundred day simple moving average is $47.77.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its holdings in shares of Super Micro Computer by 1,128.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,204 shares of the company's stock valued at $986,000 after purchasing an additional 1,106 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Super Micro Computer by 75.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,270 shares of the company's stock worth $8,420,000 after buying an additional 3,992 shares during the last quarter. Meeder Advisory Services Inc. purchased a new position in Super Micro Computer during the 2nd quarter worth $222,000. Parallel Advisors LLC lifted its stake in shares of Super Micro Computer by 59.4% in the 2nd quarter. Parallel Advisors LLC now owns 373 shares of the company's stock worth $306,000 after acquiring an additional 139 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Super Micro Computer by 101.5% in the second quarter. Envestnet Asset Management Inc. now owns 20,782 shares of the company's stock valued at $17,028,000 after acquiring an additional 10,469 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.