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

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $60.25, but opened at $57.21. Super Micro Computer shares last traded at $56.70, with a volume of 47,847,932 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on SMCI shares. Northland Securities reissued an "outperform" rating and set a $57.00 price target (up from $54.00) on shares of Super Micro Computer in a research report on Wednesday, February 12th. Argus cut shares of Super Micro Computer from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Wedbush raised their target price on shares of Super Micro Computer from $24.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Cfra raised Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research report on Tuesday, February 11th. Finally, Loop Capital raised their price objective on Super Micro Computer from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.20.

Super Micro Computer Price Performance

The stock has a fifty day moving average of $34.83 and a 200 day moving average of $39.86. The stock has a market cap of $32.83 billion, a price-to-earnings ratio of 28.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently bought and sold shares of SMCI. Vermillion Wealth Management Inc. acquired a new stake in shares of Super Micro Computer in the fourth quarter worth $107,000. Mackenzie Financial Corp boosted its holdings in Super Micro Computer by 445.8% in the fourth quarter. Mackenzie Financial Corp now owns 31,660 shares of the company's stock valued at $965,000 after purchasing an additional 25,859 shares during the last quarter. Griffith & Werner Inc. acquired a new stake in Super Micro Computer during the 4th quarter worth about $700,000. Toronto Dominion Bank raised its stake in shares of Super Micro Computer by 835.0% during the 4th quarter. Toronto Dominion Bank now owns 181,578 shares of the company's stock valued at $5,535,000 after buying an additional 162,158 shares during the last quarter. Finally, Warm Springs Advisors Inc. acquired a new position in shares of Super Micro Computer in the 4th quarter valued at about $1,063,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.