Super Micro Computer (NASDAQ:SMCI) Shares Down 25.4% Following Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) traded down 25.4% during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $67.50 to $28.00. The Goldman Sachs Group currently has a neutral rating on the stock. Super Micro Computer traded as low as $20.20 and last traded at $20.66. 56,023,266 shares were traded during mid-day trading, a decline of 31% from the average session volume of 80,633,508 shares. The stock had previously closed at $27.70.

Other research analysts have also issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Super Micro Computer in a report on Wednesday, August 7th. Nomura lowered Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Wednesday, July 10th. Loop Capital reduced their target price 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. Mizuho initiated coverage on Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. Finally, Needham & Company LLC initiated coverage on Super Micro Computer in a research report on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.89.

Institutional Trading of Super Micro Computer

A number of large investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in Super Micro Computer during the 1st quarter worth about $98,000. Vanguard Group Inc. raised its holdings in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after acquiring an additional 1,265,542 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Super Micro Computer by 168.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,592 shares of the company’s stock worth $59,180,000 after acquiring an additional 36,795 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Super Micro Computer by 24.8% in the 2nd quarter. SG Americas Securities LLC now owns 15,432 shares of the company’s stock valued at $12,644,000 after purchasing an additional 3,064 shares during the last quarter. Finally, SlateStone Wealth LLC acquired a new stake in shares of Super Micro Computer in the 2nd quarter valued at $683,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Trading Up 12.2 %

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 company’s 50-day moving average price is $42.72 and its 200-day moving average price is $65.35. The firm has a market capitalization of $14.25 billion, a PE ratio of 12.77 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.14). The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company’s revenue was up 142.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. On average, sell-side analysts expect that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.

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.