Super Micro Computer (NASDAQ:SMCI) Trading Down 1.4% Following Analyst Downgrade

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 1.4% during trading on Tuesday after Loop Capital lowered their price target on the stock from $1,500.00 to $1,000.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as low as $452.26 and last traded at $459.26. Approximately 2,348,552 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 8,266,440 shares. The stock had previously closed at $465.94.

Other analysts also recently issued research reports about the company. Mizuho started coverage on Super Micro Computer in a research note on Tuesday, September 17th. They set a “neutral” rating and a $450.00 price target for the company. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price target for the company from $1,090.00 to $700.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $950.00 to $500.00 in a research note on Friday, September 6th. Nomura lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 target price on the stock. in a research note on Wednesday, July 10th. Finally, Susquehanna upped their price target on shares of Super Micro Computer from $285.00 to $325.00 and gave the company a “negative” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $725.63.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC grew its holdings in shares of Super Micro Computer by 14.4% in the 1st quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock worth $104,000 after purchasing an additional 13 shares during the last quarter. Invst LLC raised its stake in shares of Super Micro Computer by 4.3% in the first quarter. Invst LLC now owns 337 shares of the company’s stock valued at $350,000 after acquiring an additional 14 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Super Micro Computer by 10.4% in the 2nd quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after acquiring an additional 14 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Super Micro Computer by 42.9% in the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after acquiring an additional 15 shares in the last quarter. Finally, TFC Financial Management Inc. grew its position in Super Micro Computer by 23.1% during the 1st quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock worth $81,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Price 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 stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 25.74 and a beta of 1.24. The stock has a fifty day moving average of $569.90 and a two-hundred day moving average of $777.22.

Super Micro Computer shares are going to split before the market opens on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly created shares will be payable to shareholders after the market closes on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing the consensus estimate of $7.63 by ($1.38). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm posted $3.43 earnings per share. The business’s revenue for the quarter was up 142.9% compared to the same quarter last year. As a group, equities research analysts forecast that Super Micro Computer, Inc. will post 28.5 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.