Kovack Advisors Inc. Sells 8,161 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• Kovack Advisors Inc. reduced its holdings in Super Micro Computer, Inc. by 58.2%, selling 8,161 shares to leave them with 5,856 shares valued at approximately $201,000.
• Corporate insiders, including CEO Charles Liang and Director Liang Chiu-Chu Sara Liu, sold a combined 600,000 shares of the stock on June 18th, 2023, valued at $13,500,000 each.
• Super Micro Computer's stock has experienced a substantial rise, with a market cap of $32.51 billion and a current trading price of around $54.47, alongside a forecasted earnings per share of 1.86 for the fiscal year.

Kovack Advisors Inc. cut its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 58.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,856 shares of the company's stock after selling 8,161 shares during the quarter. Kovack Advisors Inc.'s holdings in Super Micro Computer were worth $201,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SMCI. Bernard Wealth Management Corp. bought a new position in shares of Super Micro Computer during the 4th quarter valued at about $33,000. Quarry LP bought a new position in shares of Super Micro Computer during the 4th quarter valued at about $34,000. Central Pacific Bank Trust Division bought a new position in shares of Super Micro Computer during the 1st quarter valued at about $34,000. IMG Wealth Management Inc. increased 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 valued at $36,000 after purchasing an additional 500 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Super Micro Computer by 664.9% during the 1st quarter. Versant Capital Management Inc now owns 1,178 shares of the company's stock valued at $40,000 after purchasing an additional 1,024 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

Insider Activity at Super Micro Computer

In related news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the firm's 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 director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Liang sold 300,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total value of $13,500,000.00. Following the transaction, the chief executive officer directly owned 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. This trade represents a 0.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 667,000 shares of company stock valued at $29,949,340 in the last 90 days. Corporate insiders own 17.60% of the company's stock.

Super Micro Computer Trading Up 3.7%

SMCI opened at $54.47 on Friday. The stock has a market cap of $32.51 billion, a PE ratio of 28.65, a PEG ratio of 2.65 and a beta of 1.43. The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $45.94 and a 200-day moving average of $39.96. Super Micro Computer, Inc. has a 52 week low of $17.25 and a 52 week high of $73.00.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Equities research analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $39.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Mizuho increased their target price on Super Micro Computer from $40.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. increased their price objective on Super Micro Computer from $35.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Raymond James Financial assumed coverage on Super Micro Computer in a report on Wednesday, June 25th. They issued an "outperform" rating for the company. Finally, Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $42.89.

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.

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.