Envestnet Asset Management Inc. Trims Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Super Micro Computer by 30.5%, selling 16,239 shares, and now holds 37,055 shares valued at approximately $1.27 million.
• Recent analyst ratings for Super Micro Computer include a "neutral" from KGI Securities and a "sell" from Wall Street Zen, with an average price target of $42.89.
• Insider trading activity revealed significant sales, including CFO David E. Weigand selling 67,000 shares and Director Liang Chiu-Chu Sara Liu selling 300,000 shares, totaling $16.45 million.

Envestnet Asset Management Inc. lowered its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,055 shares of the company's stock after selling 16,239 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Super Micro Computer were worth $1,269,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $854,000 after purchasing an additional 302 shares in the last quarter. Wahed Invest LLC raised its position 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 valued at $377,000 after purchasing an additional 352 shares during the period. Shelton Capital Management lifted its position in Super Micro Computer by 6.5% during the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company's stock worth $240,000 after acquiring an additional 480 shares during the last quarter. IMG Wealth Management Inc. lifted its position in shares of 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 last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Super Micro Computer by 60.0% in the first quarter. Golden State Wealth Management LLC now owns 1,776 shares of the company's stock valued at $61,000 after acquiring an additional 666 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. KGI Securities assumed coverage on Super Micro Computer in a research report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Wall Street Zen raised shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a report on Wednesday, May 7th. Raymond James Financial assumed coverage on Super Micro Computer in a research report on Wednesday, June 25th. They set an "outperform" rating on the stock. Finally, Barclays reaffirmed an "equal weight" rating and issued a $34.00 price objective on shares of Super Micro Computer in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $42.89.

Super Micro Computer Price Performance

Shares of SMCI opened at $56.64 on Friday. Super Micro Computer, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $66.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.95 and a current ratio of 6.66. The stock has a market cap of $33.80 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.46. The firm's 50-day simple moving average is $47.62 and its two-hundred day simple moving average is $40.84.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction on 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 owned 88,599 shares in the company, valued at $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business's stock in a transaction on 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 sale, the director directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,067,000 shares of company stock valued at $53,949,340. 17.60% of the stock is owned by corporate insiders.

Super Micro Computer 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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