Super Micro Computer (NASDAQ:SMCI) Shares Gap Down to $62.30

Super Micro Computer, Inc. (NASDAQ:SMCIGet Rating)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $62.30, but opened at $58.18. Super Micro Computer shares last traded at $58.16, with a volume of 2,621 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMCI. Susquehanna cut shares of Super Micro Computer from a “positive” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Monday. Northland Securities increased their price target on Super Micro Computer from $85.00 to $97.00 in a research note on Thursday, July 21st. Finally, Susquehanna Bancshares downgraded Super Micro Computer to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Monday.

Super Micro Computer Price Performance

The firm has a market capitalization of $2.92 billion, a P/E ratio of 10.55 and a beta of 1.27. The business’s fifty day moving average is $59.94 and its 200 day moving average is $49.69. The company has a current ratio of 1.91, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Super Micro Computer (NASDAQ:SMCIGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.39. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Super Micro Computer had a return on equity of 22.79% and a net margin of 5.49%. The firm’s revenue was up 52.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, analysts forecast that Super Micro Computer, Inc. will post 6.92 EPS for the current year.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Super Micro Computer by 379.5% during the second quarter. Millennium Management LLC now owns 609,315 shares of the company’s stock valued at $24,586,000 after buying an additional 482,230 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in shares of Super Micro Computer by 51.3% in the 1st quarter. Wolf Hill Capital Management LP now owns 1,417,069 shares of the company’s stock valued at $53,948,000 after acquiring an additional 480,424 shares in the last quarter. BlackRock Inc. boosted its stake in Super Micro Computer by 8.7% in the 1st quarter. BlackRock Inc. now owns 3,445,273 shares of the company’s stock worth $131,163,000 after purchasing an additional 275,725 shares during the period. Loomis Sayles & Co. L P purchased a new position in Super Micro Computer during the 4th quarter worth approximately $8,488,000. Finally, Dimensional Fund Advisors LP raised its stake in Super Micro Computer by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,629,386 shares of the company’s stock valued at $62,035,000 after purchasing an additional 171,335 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.

About Super Micro Computer

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Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high-performance server and storage solutions based on modular and open architecture. Its solutions range from complete server, storage, modular blade servers, blades, workstations, full racks, networking devices, server management software, and server sub-systems, as well as security software.

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