JPMorgan Chase & Co. Downgrades Super Micro Computer (NASDAQ:SMCI) to Underweight

JPMorgan Chase & Co. downgraded shares of Super Micro Computer (NASDAQ:SMCI) from a neutral rating to an underweight rating in a research report released on Wednesday morning, Marketbeat.com reports. They currently have $23.00 price objective on the stock, down from their prior price objective of $50.00.

SMCI has been the subject of several other reports. Wells Fargo & Company dropped their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Cfra reiterated a “hold” rating and issued a $45.40 price objective (down previously from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Mizuho assumed coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 target price on the stock. Needham & Company LLC started coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target for the company. Finally, The Goldman Sachs Group cut their price target on shares of Super Micro Computer from $77.50 to $67.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

Super Micro Computer stock opened at $24.52 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The stock has a market cap of $13.71 billion, a PE ratio of 12.31 and a beta of 1.28. Super Micro Computer has a 12-month low of $20.20 and a 12-month high of $122.90. The business’s 50-day moving average price is $41.93 and its two-hundred day moving average price is $64.79.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. increased its holdings in Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after buying an additional 24 shares during the period. Moser Wealth Advisors LLC purchased a new position in shares of Super Micro Computer in the 2nd quarter valued at $25,000. VitalStone Financial LLC raised its position in shares of Super Micro Computer by 250.0% in the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Super Micro Computer by 141.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after purchasing an additional 24 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Super Micro Computer by 186.7% during the first quarter. Larson Financial Group LLC now owns 43 shares of the company’s stock valued at $43,000 after purchasing an additional 28 shares in the last quarter. Institutional investors 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.