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

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $59.00 to $34.00. The stock had previously closed at $36.00, but opened at $29.12. Barclays currently has an equal weight rating on the stock. Super Micro Computer shares last traded at $30.24, with a volume of 28,456,167 shares trading hands.

Several other equities research analysts have also issued reports on the stock. Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a research note on Thursday, March 6th. Loop Capital reaffirmed a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Mizuho lowered their price objective on Super Micro Computer from $50.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday. Citigroup started coverage on Super Micro Computer in a report on Friday, April 25th. They issued a "neutral" rating and a $39.00 target price for the company. Finally, The Goldman Sachs Group downgraded Super Micro Computer from a "neutral" rating to a "sell" rating and lowered their price target for the company from $40.00 to $32.00 in a report on Monday, March 24th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $48.73.

Insider Activity

In related news, Director Robert L. Blair sold 19,460 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the sale, the chief executive officer now owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,473 shares of company stock valued at $6,771,552. Insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Several institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. acquired a new stake in Super Micro Computer during the fourth quarter valued at approximately $30,000. Trust Co. of Vermont boosted its stake in Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 900 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after acquiring an additional 954 shares during the period. Larson Financial Group LLC raised its stake in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after acquiring an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new position in shares of Super Micro Computer during the fourth quarter valued at $31,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Price Performance

The company has a market cap of $20.12 billion, a price-to-earnings ratio of 16.92 and a beta of 1.22. 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 $36.34 and its 200 day moving average price is $35.67.

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.