Prudential PLC Trims Stock Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Prudential PLC lessened its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 65.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,536 shares of the company's stock after selling 16,432 shares during the quarter. Prudential PLC's holdings in Super Micro Computer were worth $292,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $29,000. Bernard Wealth Management Corp. purchased a new stake in shares of Super Micro Computer during the 4th quarter valued at approximately $33,000. Quarry LP purchased a new stake in Super Micro Computer in the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division purchased a new stake in Super Micro Computer in the first quarter valued at approximately $34,000. Finally, IMG Wealth Management Inc. raised its position in Super Micro Computer by 90.7% in the first 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 period. Hedge funds and other institutional investors own 84.06% of the company's stock.

Super Micro Computer Stock Performance

Shares of SMCI stock opened at $45.37 on Friday. The company has a current ratio of 5.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $48.96 and a 200 day moving average price of $42.10. The company has a market cap of $27.08 billion, a P/E ratio of 27.33, a PEG ratio of 1.13 and a beta of 1.46. Super Micro Computer, Inc. has a 12 month low of $17.25 and a 12 month high of $66.44.

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

Insider Buying and Selling

In related 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 completion of the transaction, the chief financial officer owned 88,599 shares in the company, valued at approximately $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Liang sold 300,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,067,000 shares of company stock worth $53,949,340. Corporate insiders own 16.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMCI. Bank of America began coverage on Super Micro Computer in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 target price on the stock. Mizuho boosted their target price on Super Micro Computer from $40.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. KGI Securities began coverage on Super Micro Computer in a research report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Northland Securities set a $59.00 target price on Super Micro Computer in a research report on Wednesday, May 7th. Finally, Zacks Research raised Super Micro Computer to a "hold" rating in a research report on Monday, August 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $44.75.

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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