Elequin Capital LP Acquires 91,222 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• Elequin Capital LP significantly increased its stake in Super Micro Computer by acquiring 91,222 shares, lifting its holdings by 76,657.1% to a total of 91,341 shares, valued at approximately $3.13 million.
• Super Micro Computer reported a quarterly earnings miss with $0.41 EPS, falling short of analysts' expectations of $0.44, alongside 8.5% year-over-year revenue growth to $5.76 billion.
• Insider activity included the sale of 1,067,000 shares by company executives in the last three months, contributing to a 43.06% decrease in the CFO's ownership stake.

Elequin Capital LP lifted its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 76,657.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 91,341 shares of the company's stock after purchasing an additional 91,222 shares during the period. Super Micro Computer comprises about 0.4% of Elequin Capital LP's investment portfolio, making the stock its 19th biggest position. Elequin Capital LP's holdings in Super Micro Computer were worth $3,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SMCI. Eastern Bank bought a new stake in Super Micro Computer in the 1st quarter worth $29,000. Bernard Wealth Management Corp. bought a new stake in Super Micro Computer in the 4th quarter worth $33,000. Quarry LP bought a new stake in Super Micro Computer in the 4th quarter worth $34,000. Central Pacific Bank Trust Division bought a new stake in Super Micro Computer in the 1st quarter worth $34,000. Finally, IMG Wealth Management Inc. grew its holdings in Super Micro Computer by 90.7% in the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock worth $36,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 84.06% of the company's stock.

Super Micro Computer Trading Down 0.3%

Shares of NASDAQ SMCI opened at $45.37 on Friday. Super Micro Computer, Inc. has a 1 year low of $17.25 and a 1 year high of $66.44. The stock has a market cap of $27.08 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.46. The firm has a 50-day moving average of $48.96 and a 200 day moving average of $42.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.32 and a quick ratio of 3.32.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $5.76 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the business earned $6.25 earnings per share. The company's revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SMCI shares. Wedbush reissued a "neutral" rating and issued a $30.00 price target on shares of Super Micro Computer in a report on Monday, August 4th. Bank of America started coverage on shares of Super Micro Computer in a report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 price target on the stock. KGI Securities started coverage on shares of Super Micro Computer in a report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Rosenblatt Securities cut their price target on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Zacks Research raised shares of Super Micro Computer to a "hold" rating in a report on Monday, August 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $44.75.

Insider Activity at Super Micro Computer

In related news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of Super Micro Computer stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the transaction, the director directly owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. This trade represents a 0.45% decrease in their position. The sale 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 Super Micro Computer stock in a transaction dated Tuesday, May 20th. The shares were 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 trade represents a 43.06% decrease in their ownership of the stock. 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 in the last three months. Company insiders own 16.30% of the company's stock.

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.

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