Cornerstone Wealth Management LLC Has $773,000 Stock Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Cornerstone Wealth Management LLC increased its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 214.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,564 shares of the company's stock after purchasing an additional 15,396 shares during the period. Cornerstone Wealth Management LLC's holdings in Super Micro Computer were worth $773,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SMCI. Parkside Financial Bank & Trust boosted its holdings in Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock worth $30,000 after buying an additional 954 shares during the last quarter. Larson Financial Group LLC boosted its stake in Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after acquiring an additional 893 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Super Micro Computer during the first quarter valued at approximately $34,000. Bernard Wealth Management Corp. acquired a new position in Super Micro Computer during the fourth quarter valued at approximately $33,000. Finally, AlphaQuest LLC increased its stake in Super Micro Computer by 233.0% in the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock valued at $33,000 after purchasing an additional 762 shares in the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Super Micro Computer Stock Up 3.2%

Super Micro Computer stock opened at $44.47 on Friday. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38. Super Micro Computer, Inc. has a 1-year low of $17.25 and a 1-year high of $101.40. The company has a fifty day simple moving average of $38.33 and a 200 day simple moving average of $37.41. The company has a market cap of $26.54 billion, a P/E ratio of 23.39 and a beta of 1.40.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating 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 company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the company earned $0.66 EPS. Super Micro Computer's revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barclays reaffirmed an "equal weight" rating and set a $34.00 price objective on shares of Super Micro Computer in a research note on Tuesday, May 6th. Citigroup assumed coverage on Super Micro Computer in a research note on Tuesday, May 6th. They issued a "neutral" rating and a $39.00 target price for the company. Wedbush restated a "neutral" rating and issued a $30.00 price target (down from $40.00) on shares of Super Micro Computer in a report on Wednesday, May 7th. Finally, KGI Securities initiated coverage on Super Micro Computer in a research report on Wednesday, May 7th. They set a "neutral" rating on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $45.63.

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.

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