Super Micro Computer, Inc. (NASDAQ:SMCI) Stake Cut by Spire Wealth Management

Spire Wealth Management trimmed its position in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 47.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,195 shares of the company's stock after selling 7,331 shares during the period. Spire Wealth Management's holdings in Super Micro Computer were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its position in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC boosted its stake in Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after buying an additional 893 shares during the last quarter. AlphaQuest LLC boosted its stake in Super Micro Computer by 233.0% in the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after buying an additional 762 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Super Micro Computer in the 4th quarter valued at about $33,000. Finally, Lindbrook Capital LLC increased its stake in shares of Super Micro Computer by 763.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,114 shares of the company's stock valued at $34,000 after acquiring an additional 985 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO David E. Weigand sold 67,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the sale, the chief financial officer owned 88,599 shares in the company, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $13,500,000.00. Following the completion of the transaction, the chief executive officer 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 quarter, insiders sold 667,000 shares of company stock worth $29,949,340. Insiders own 17.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SMCI shares. The Goldman Sachs Group downgraded shares of Super Micro Computer from a "neutral" rating to a "sell" rating and lowered their target price for the company from $40.00 to $32.00 in a report on Monday, March 24th. Needham & Company LLC reissued a "buy" rating and set a $39.00 price objective on shares of Super Micro Computer in a research note on Wednesday, May 7th. KGI Securities initiated 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 price target on Super Micro Computer in a research report on Wednesday, May 7th. Finally, Barclays restated an "equal weight" rating and set a $34.00 price target on shares of Super Micro Computer in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $46.06.

Super Micro Computer Stock Down 0.5%

Super Micro Computer stock traded down $0.24 during midday trading on Thursday, hitting $48.51. 18,660,296 shares of the stock were exchanged, compared to its average volume of 69,097,024. Super Micro Computer, Inc. has a 1 year low of $17.25 and a 1 year high of $96.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. The firm has a market cap of $28.95 billion, a P/E ratio of 25.52 and a beta of 1.43. The company has a 50 day moving average price of $40.93 and a two-hundred day moving average price of $37.78.

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 the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company's revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, sell-side analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

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.