Sovran Advisors LLC Takes $295,000 Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Sovran Advisors LLC bought a new position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 9,358 shares of the company's stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SMCI. Allspring Global Investments Holdings LLC raised its position in Super Micro Computer by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock worth $854,000 after acquiring an additional 302 shares during the period. Wahed Invest LLC raised its holdings in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after purchasing an additional 352 shares during the period. Shelton Capital Management lifted its stake in Super Micro Computer by 6.5% in the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company's stock valued at $240,000 after purchasing an additional 480 shares during the last quarter. IMG Wealth Management Inc. grew its holdings 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 purchasing an additional 500 shares during the period. Finally, Golden State Wealth Management LLC increased its position in 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 worth $61,000 after buying an additional 666 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Citigroup assumed coverage on Super Micro Computer in a research note on Tuesday, May 6th. They issued a "neutral" rating and a $39.00 price objective on the stock. Mizuho set a $40.00 price objective on shares of Super Micro Computer and gave the company a "neutral" rating in a report on Monday, May 19th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Super Micro Computer currently has a consensus rating of "Hold" and a consensus price target of $45.63.

Super Micro Computer Price Performance

NASDAQ SMCI traded up $1.54 during trading on Wednesday, reaching $48.74. The company's stock had a trading volume of 27,619,058 shares, compared to its average volume of 69,241,248. The firm has a fifty day moving average of $40.61 and a 200 day moving average of $37.70. Super Micro Computer, Inc. has a one year low of $17.25 and a one year high of $96.33. The stock has a market capitalization of $29.09 billion, a PE ratio of 25.64 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its earnings results 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 business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted $0.66 earnings per share. Super Micro Computer's quarterly revenue was up 19.5% on a year-over-year basis. Analysts expect that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, CEO Charles Liang sold 300,000 shares of Super Micro Computer 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 chief executive officer owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the stock in a transaction dated 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 director owned 66,903,640 shares in the company, 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. In the last ninety days, insiders sold 667,000 shares of company stock valued at $29,949,340. Insiders own 17.60% of the company's stock.

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.