Super Micro Computer (NASDAQ:SMCI) Shares Gap Down – Time to Sell?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

SMCI has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Bank of America cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price target for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Wedbush reissued a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Performance

The firm’s 50-day moving average price is $40.61 and its two-hundred day moving average price is $63.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 9.04 and a beta of 1.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec raised its holdings in Super Micro Computer by 99.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,787 shares of the company’s stock valued at $3,659,000 after buying an additional 4,372 shares during the period. Verition Fund Management LLC raised its holdings in Super Micro Computer by 296.0% in the 3rd quarter. Verition Fund Management LLC now owns 15,213 shares of the company’s stock valued at $6,335,000 after buying an additional 11,371 shares during the period. Captrust Financial Advisors raised its holdings in Super Micro Computer by 132.2% in the 3rd quarter. Captrust Financial Advisors now owns 18,905 shares of the company’s stock valued at $7,872,000 after buying an additional 10,763 shares during the period. Providence Wealth Advisors LLC raised its holdings in Super Micro Computer by 900.0% in the 3rd quarter. Providence Wealth Advisors LLC now owns 6,810 shares of the company’s stock valued at $2,836,000 after buying an additional 6,129 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Super Micro Computer by 18.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,315 shares of the company’s stock valued at $6,377,000 after buying an additional 2,403 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.