Cynosure Group LLC Trims Stock Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Cynosure Group LLC trimmed its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,308 shares of the company's stock after selling 9,923 shares during the quarter. Cynosure Group LLC's holdings in Super Micro Computer were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMCI. Eastern Bank purchased a new position in Super Micro Computer during the 1st quarter worth $29,000. Bernard Wealth Management Corp. purchased a new position in Super Micro Computer during the 4th quarter worth $33,000. Quarry LP purchased a new position in Super Micro Computer during the 4th quarter worth $34,000. Central Pacific Bank Trust Division purchased a new position in Super Micro Computer during the 1st quarter worth $34,000. Finally, IMG Wealth Management Inc. increased its holdings 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 during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Needham & Company LLC raised their price objective on Super Micro Computer from $39.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Northland Securities set a $59.00 price objective on Super Micro Computer in a report on Wednesday, May 7th. Raymond James Financial began coverage on Super Micro Computer in a report on Wednesday, June 25th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. dropped their target price on Super Micro Computer from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Citigroup reaffirmed a "neutral" rating and set a $52.00 target price (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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.75.

Insider Activity

In related news, CEO Charles Liang sold 300,000 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 66,903,640 shares in the company, valued at approximately $3,010,663,800. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David E. Weigand sold 67,000 shares of the company's 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 owned 88,599 shares in the company, 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. Over the last three months, insiders have 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 Stock Performance

Shares of SMCI opened at $44.60 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.32 and a current ratio of 5.32. The stock has a 50-day moving average of $48.61 and a two-hundred day moving average of $41.63. The stock has a market cap of $26.62 billion, a P/E ratio of 26.87, a P/E/G ratio of 1.14 and a beta of 1.46. Super Micro Computer, Inc. has a one year low of $17.25 and a one year high of $66.44.

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

Super Micro Computer Company Profile

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.

Want to see what other hedge funds are holding SMCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.