Super Micro Computer (NASDAQ:SMCI) Trading Down 25.4% After Analyst Downgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) was 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. Approximately 56,023,266 shares changed hands during trading, a decline of 31% from the average daily volume of 80,633,508 shares. The stock had previously closed at $27.70.

Several other research analysts have also weighed in on SMCI. Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Wells Fargo & Company decreased their price target on 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Super Micro Computer in a research note on Wednesday, August 7th. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Finally, Nomura lowered Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.89.

Institutional Investors Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after acquiring an additional 1,265,542 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Super Micro Computer during the first quarter worth $1,325,466,000. International Assets Investment Management LLC grew its position in shares of Super Micro Computer by 63,634.1% in the third quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after purchasing an additional 915,058 shares during the period. Dimensional Fund Advisors LP increased its stake in Super Micro Computer by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Swiss National Bank lifted its position in Super Micro Computer by 1.1% during the first quarter. Swiss National Bank now owns 150,600 shares of the company’s stock worth $152,111,000 after buying an additional 1,700 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Stock Down 18.1 %

The firm has a fifty day simple moving average of $43.36 and a 200 day simple moving average of $65.69. 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 has a market cap of $12.70 billion, a PE ratio of 11.40 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last released its earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Super Micro Computer’s revenue for the quarter was up 142.9% compared to the same quarter last year. Equities research analysts predict that Super Micro Computer, Inc. will post 2.85 EPS 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.