Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $33.48, but opened at $31.86. Super Micro Computer shares last traded at $33.58, with a volume of 7,530,820 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SMCI. Rosenblatt Securities began coverage on Super Micro Computer in a report on Monday, March 10th. They issued a “buy” rating and a $60.00 price target for the company. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group cut Super Micro Computer from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $40.00 to $32.00 in a research report on Monday, March 24th. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Finally, Wedbush restated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Super Micro Computer Stock Performance

The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 16.66 and a beta of 1.22. The firm has a fifty day moving average of $40.18 and a 200-day moving average of $36.70. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now owns 19,449 shares in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,473 shares of company stock valued at $6,771,552. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Super Micro Computer

Hedge funds have recently added to or reduced their stakes in the business. Polianta Ltd purchased a new stake in Super Micro Computer in the first quarter valued at approximately $979,000. Fifth Third Bancorp increased its holdings in shares of Super Micro Computer by 73.8% during the 1st quarter. Fifth Third Bancorp now owns 21,323 shares of the company’s stock worth $730,000 after buying an additional 9,057 shares during the last quarter. Rowlandmiller & PARTNERS.ADV grew its position in Super Micro Computer by 51.9% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 85,525 shares of the company’s stock valued at $2,928,000 after acquiring an additional 29,225 shares during the period. CX Institutional acquired a new position in shares of Super Micro Computer in the 1st quarter valued at about $104,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Super Micro Computer by 96.4% in the first quarter. Assenagon Asset Management S.A. now owns 163,777 shares of the company’s stock worth $5,608,000 after acquiring an additional 80,371 shares in the last quarter. 84.06% of the stock is 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.