Navellier & Associates Inc. Cuts Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Navellier & Associates Inc. lessened its stake in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 17.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 310,368 shares of the company's stock after selling 65,665 shares during the quarter. Super Micro Computer comprises about 1.4% of Navellier & Associates Inc.'s holdings, making the stock its 11th largest holding. Navellier & Associates Inc. owned approximately 0.05% of Super Micro Computer worth $9,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $34,000. IMG Wealth Management Inc. boosted its stake in Super Micro Computer by 90.7% during the first quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock valued at $36,000 after buying an additional 500 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in Super Micro Computer during the fourth quarter valued at about $33,000. Quarry LP purchased a new stake in shares of Super Micro Computer during the fourth quarter valued at $34,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Super Micro Computer by 664.9% during the first 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. Hedge funds and other institutional investors own 84.06% of the company's stock.

Super Micro Computer Stock Up 3.7%

SMCI stock traded up $1.95 during mid-day trading on Friday, reaching $54.47. 34,065,757 shares of the company traded hands, compared to its average volume of 33,038,150. The stock has a market cap of $32.51 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 2.56 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. Super Micro Computer, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $73.00. The firm's 50 day moving average price is $45.94 and its 200 day moving average price is $39.91.

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, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, equities research analysts predict that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SMCI. Barclays reissued an "equal weight" rating and issued a $34.00 price objective on shares of Super Micro Computer in a research note on Tuesday, May 6th. Citigroup reissued a "neutral" rating and set a $52.00 price objective (up previously from $37.00) on shares of Super Micro Computer in a report on Friday, July 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $39.00 target price on shares of Super Micro Computer in a report on Wednesday, May 7th. Mizuho raised their price objective on Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Northland Securities set a $59.00 target price on Super Micro Computer in a research report on Wednesday, May 7th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $42.89.

Insider Activity

In related news, CFO David E. Weigand sold 67,000 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer directly owned 88,599 shares of the company's stock, valued at $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 667,000 shares of company stock valued at $29,949,340. 17.60% of the stock is currently owned by insiders.

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.