Nuveen LLC Invests $53.03 Million in Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• Nuveen LLC has invested approximately $53.03 million in Super Micro Computer, acquiring over 1.5 million shares, bringing its total ownership to about 0.26% of the company.
• Several other hedge funds significantly increased their stakes in Super Micro Computer in the fourth quarter, demonstrating a strong interest from institutional investors, who now own over 84% of the stock.
• Super Micro Computer reported a missed earnings forecast with a quarterly EPS of $0.41, falling short of the expected $0.44, and its revenue for the quarter was below analysts' expectations at $5.76 billion.

Nuveen LLC bought a new position in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,548,813 shares of the company's stock, valued at approximately $53,031,000. Nuveen LLC owned about 0.26% of Super Micro Computer as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SMCI. Envestnet Asset Management Inc. bought a new stake in Super Micro Computer during the fourth quarter worth $1,624,000. Cerity Partners LLC lifted its holdings in Super Micro Computer by 495.0% during the fourth quarter. Cerity Partners LLC now owns 16,106 shares of the company's stock worth $491,000 after acquiring an additional 13,399 shares during the period. Bessemer Group Inc. lifted its holdings in Super Micro Computer by 1,014.7% during the fourth quarter. Bessemer Group Inc. now owns 2,118 shares of the company's stock worth $65,000 after acquiring an additional 1,928 shares during the period. Sterling Capital Management LLC lifted its holdings in Super Micro Computer by 787.8% during the fourth quarter. Sterling Capital Management LLC now owns 8,008 shares of the company's stock worth $244,000 after acquiring an additional 7,106 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Super Micro Computer by 535.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 151,842 shares of the company's stock valued at $4,628,000 after buying an additional 127,949 shares during the period. 84.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the transaction, the chief financial officer directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total value of $13,500,000.00. Following the transaction, the director owned 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. The trade was a 0.45% 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 worth $53,949,340 over the last ninety days. 16.30% of the stock is owned by corporate insiders.

Super Micro Computer Stock Performance

NASDAQ:SMCI opened at $45.49 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.32 and a current ratio of 5.32. Super Micro Computer, Inc. has a 52-week low of $17.25 and a 52-week high of $66.44. The firm has a market cap of $27.15 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.15 and a beta of 1.46. The business's fifty day moving average is $48.88 and its 200 day moving average is $41.89.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SMCI. JPMorgan Chase & Co. lowered their target price on Super Micro Computer from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Bank of America began coverage on Super Micro Computer in a research note on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 target price on the stock. Rosenblatt Securities lowered their target price on Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC boosted their target price on Super Micro Computer from $39.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial began coverage on Super Micro Computer in a research note on Wednesday, June 25th. They issued an "outperform" rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Super Micro Computer has an average rating of "Hold" and a consensus target price of $44.75.

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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