Bank of New York Mellon Corp Sells 53,241 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Bank of New York Mellon Corp cut its stake in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,891,379 shares of the company's stock after selling 53,241 shares during the period. Bank of New York Mellon Corp owned 0.49% of Super Micro Computer worth $99,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. acquired a new stake in Super Micro Computer during the first quarter valued at approximately $5,408,000. Sequoia Financial Advisors LLC raised its position in shares of Super Micro Computer by 43.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,243 shares of the company's stock valued at $659,000 after acquiring an additional 5,804 shares in the last quarter. LPL Financial LLC lifted its stake in Super Micro Computer by 561.3% during the fourth quarter. LPL Financial LLC now owns 675,605 shares of the company's stock worth $20,592,000 after purchasing an additional 573,439 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Super Micro Computer during the fourth quarter valued at $1,176,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Super Micro Computer by 796.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,446,722 shares of the company's stock worth $44,096,000 after purchasing an additional 1,285,355 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective 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. Wedbush reissued a "buy" rating on shares of Super Micro Computer in a report on Wednesday, June 25th. Citigroup initiated coverage on Super Micro Computer in a research report on Tuesday, May 6th. They set a "neutral" rating and a $39.00 price objective for the company. Bank of America assumed coverage on Super Micro Computer in a research note on Wednesday. They set an "underperform" rating and a $35.00 price objective for the company. Finally, Rosenblatt Securities cut 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. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $43.88.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer owned 88,599 shares of the company's stock, valued at $3,900,127.98. This represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Liang sold 300,000 shares of the 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 owned 66,903,640 shares in the company, 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. In the last ninety days, insiders have sold 667,000 shares of company stock valued at $29,949,340. Corporate insiders own 17.60% of the company's stock.

Super Micro Computer Stock Up 0.7%

SMCI stock traded up $0.34 during trading hours on Thursday, hitting $50.36. The company's stock had a trading volume of 33,182,968 shares, compared to its average volume of 68,645,507. The stock has a 50 day moving average price of $42.25 and a two-hundred day moving average price of $38.34. Super Micro Computer, Inc. has a 12 month low of $17.25 and a 12 month high of $96.33. The company has a market capitalization of $30.06 billion, a PE ratio of 26.49 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 (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Super Micro Computer's quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts expect that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

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.