Prosperity Consulting Group LLC bought a new position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,424 shares of the company's stock, valued at approximately $288,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Super Micro Computer by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock valued at $854,000 after buying an additional 302 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock valued at $377,000 after acquiring an additional 352 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Super Micro Computer by 0.3% in the 1st quarter. Victory Capital Management Inc. now owns 162,589 shares of the company's stock worth $5,567,000 after purchasing an additional 457 shares during the period. Shelton Capital Management boosted its stake in Super Micro Computer by 6.5% in the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company's stock worth $240,000 after purchasing an additional 480 shares during the period. Finally, IMG Wealth Management Inc. grew its position in Super Micro Computer by 90.7% during the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock worth $36,000 after purchasing an additional 500 shares in the last quarter. 84.06% of the stock is owned by institutional investors.
Super Micro Computer Stock Up 3.5%
Shares of NASDAQ:SMCI traded up $2.08 on Wednesday, reaching $60.71. The company had a trading volume of 52,543,923 shares, compared to its average volume of 33,995,012. The stock has a market capitalization of $36.23 billion, a P/E ratio of 31.94, a P/E/G ratio of 2.85 and a beta of 1.43. The stock has a 50-day moving average price of $46.94 and a 200 day moving average price of $40.47. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $72.44. The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38.
Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company earned $0.66 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts expect that Super Micro Computer, Inc. will post 1.86 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SMCI. JPMorgan Chase & Co. increased their target price on Super Micro Computer from $35.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wedbush restated a "buy" rating on shares of Super Micro Computer in a research report on Wednesday, June 25th. Northland Securities set a $59.00 target price on Super Micro Computer in a research note on Wednesday, May 7th. Bank of America began coverage on shares of Super Micro Computer in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $39.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and a consensus target price of $42.89.
Read Our Latest Report on SMCI
Insider Buying and Selling
In related news, Director Liang Chiu-Chu Sara Liu sold 200,000 shares of Super Micro Computer stock in a transaction on Monday, July 28th. The shares were sold at an average price of $60.00, for a total value of $12,000,000.00. Following the transaction, the director owned 40,426,120 shares in the company, valued at $2,425,567,200. This trade represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the transaction, the chief financial officer directly owned 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,067,000 shares of company stock valued at $53,949,340. Company insiders own 17.60% of the company's stock.
Super Micro Computer Company Profile
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Free Report)
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.
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