Super Micro Computer (NASDAQ:SMCI) Stock Rating Lowered by The Goldman Sachs Group

Super Micro Computer (NASDAQ:SMCI) was downgraded by The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $32.00 price objective on the stock, down from their prior price objective of $40.00. The Goldman Sachs Group’s target price would indicate a potential downside of 21.26% from the company’s current price.

SMCI has been the topic of several other research reports. Rosenblatt Securities started coverage on shares of Super Micro Computer in a report on Monday, March 10th. They set a “buy” rating and a $60.00 price objective on the stock. StockNews.com upgraded Super Micro Computer to a “sell” rating in a report on Friday, February 28th. JPMorgan Chase & Co. upgraded Super Micro Computer from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $45.00 in a report on Friday, March 21st. Loop Capital restated a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Finally, Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Super Micro Computer Stock Performance

SMCI stock opened at $40.64 on Monday. The firm has a market cap of $24.12 billion, a PE ratio of 20.40 and a beta of 1.21. The stock has a 50-day moving average price of $39.07 and a 200-day moving average price of $37.83. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. Super Micro Computer has a 1-year low of $17.25 and a 1-year high of $110.61.

Insider Buying and Selling

In other news, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,473 shares of company stock valued at $6,771,552. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the last quarter. FMR LLC purchased a new position in Super Micro Computer in the 4th quarter worth $292,869,000. Invesco Ltd. boosted its position in Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after buying an additional 6,810,082 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Super Micro Computer by 1,573.8% during the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after buying an additional 4,605,260 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

About Super Micro Computer

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.