Caitong International Asset Management Co. Ltd Invests $558,000 in Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• Caitong International Asset Management has acquired a new stake in Super Micro Computer, Inc., purchasing 16,308 shares valued at approximately $558,000.
• Major hedge funds have significantly increased their holdings in Super Micro Computer, with Northern Trust Corp growing its stake by 1,573.8% in the last quarter.
• Wall Street analysts have mixed views on the stock, with a consensus target price of $44.75 and three analysts rating it a sell compared to six buy ratings.

Caitong International Asset Management Co. Ltd purchased a new stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,308 shares of the company's stock, valued at approximately $558,000.

Several other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Super Micro Computer by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock worth $854,000 after purchasing an additional 302 shares during the last quarter. Wahed Invest LLC raised its stake in shares of Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after purchasing an additional 352 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Super Micro Computer by 0.3% in the first 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 last quarter. IMG Wealth Management Inc. raised its stake in shares of Super Micro Computer by 90.7% in the first quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock worth $36,000 after purchasing an additional 500 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its stake in shares of Super Micro Computer by 2.6% in the first quarter. Wealthspire Advisors LLC now owns 24,372 shares of the company's stock worth $834,000 after purchasing an additional 613 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Rosenblatt Securities decreased their price target on Super Micro Computer from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on Super Micro Computer from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. KGI Securities began coverage on Super Micro Computer in a research report on Wednesday, May 7th. They set a "neutral" rating for the company. Finally, Citigroup reiterated a "neutral" rating and set a $52.00 price objective (up previously from $37.00) on shares of Super Micro Computer in a research report on Friday, July 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $44.75.

Super Micro Computer Stock Performance

NASDAQ:SMCI traded down $0.36 during mid-day trading on Wednesday, hitting $46.07. 25,955,901 shares of the company traded hands, compared to its average volume of 43,965,844. The stock's fifty day moving average price is $48.79 and its 200-day moving average price is $41.77. Super Micro Computer, Inc. has a one year low of $17.25 and a one year high of $66.44. The company has a quick ratio of 3.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.74. The firm has a market cap of $27.50 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.46.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). Super Micro Computer had a net margin of 4.77% and a return on equity of 17.14%. The company had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the firm posted $6.25 EPS. The business's revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Super Micro Computer

In other news, CEO Charles Liang sold 300,000 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total value of $13,500,000.00. Following the completion of the transaction, the chief executive officer owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David E. Weigand sold 67,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total value of $2,949,340.00. Following the completion of the transaction, the chief financial officer directly owned 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,067,000 shares of company stock valued at $53,949,340 over the last 90 days. Company insiders own 16.30% of the company's stock.

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.