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

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) 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.

Analysts Set New Price Targets

SMCI has been the subject of a number of recent analyst reports. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. StockNews.com raised Super Micro Computer to a "sell" rating in a research report on Friday, February 28th. Cfra raised Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered Super Micro Computer from a "neutral" rating to a "sell" rating and dropped their target price for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Finally, Barclays began coverage on shares of Super Micro Computer in a research report on Thursday, February 27th. They set an "equal weight" rating and a $59.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $52.57.

Super Micro Computer Stock Performance

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $18.69 billion, a PE ratio of 15.81 and a beta of 1.22. The firm's fifty day moving average is $39.73 and its 200 day moving average is $36.54.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The shares were 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 of the company's stock, valued at approximately $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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

Institutional investors have recently added to or reduced their stakes in the stock. Wahed Invest LLC lifted its position in shares of Super Micro Computer by 2.9% during the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after purchasing an additional 352 shares during the last quarter. Shelton Capital Management grew its holdings in shares of Super Micro Computer by 6.5% during the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company's stock worth $240,000 after buying an additional 480 shares during the last quarter. AlphaQuest LLC increased its position in Super Micro Computer by 233.0% in the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock valued at $33,000 after acquiring an additional 762 shares during the period. Griffith & Werner Inc. raised its stake in Super Micro Computer by 3.6% during the 1st quarter. Griffith & Werner Inc. now owns 23,786 shares of the company's stock valued at $814,000 after acquiring an additional 820 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Super Micro Computer by 203.2% during the 4th quarter. Blue Trust Inc. now owns 1,231 shares of the company's stock worth $38,000 after acquiring an additional 825 shares during the period. Institutional investors and hedge funds own 84.06% of the company's stock.

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.