Super Micro Computer, Inc. (NASDAQ:SMCI) Shares Sold by Cannell & Co.

Cannell & Co. reduced its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 17.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,758 shares of the company's stock after selling 45,876 shares during the period. Super Micro Computer makes up 2.0% of Cannell & Co.'s holdings, making the stock its 13th largest position. Cannell & Co. owned approximately 0.41% of Super Micro Computer worth $61,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in shares of Super Micro Computer during the third quarter worth $27,000. Optimum Investment Advisors acquired a new stake in Super Micro Computer during the 4th quarter worth about $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Super Micro Computer during the 4th quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new position in shares of Super Micro Computer in the fourth quarter valued at about $36,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Super Micro Computer in the third quarter worth about $39,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Price Performance

SMCI traded down $120.50 during trading on Wednesday, hitting $738.30. The company's stock had a trading volume of 13,513,457 shares, compared to its average volume of 9,733,610. The firm has a market capitalization of $41.30 billion, a price-to-earnings ratio of 57.54, a P/E/G ratio of 0.79 and a beta of 1.28. Super Micro Computer, Inc. has a twelve month low of $101.71 and a twelve month high of $1,229.00. The business's fifty day simple moving average is $952.07 and its 200 day simple moving average is $576.78. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.94 by $0.65. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $2.80 billion. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The firm's revenue for the quarter was up 103.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.09 EPS. On average, equities research analysts forecast that Super Micro Computer, Inc. will post 20.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMCI. JPMorgan Chase & Co. began coverage on shares of Super Micro Computer in a report on Monday, March 25th. They issued an "overweight" rating and a $1,150.00 price target on the stock. Wedbush increased their price objective on shares of Super Micro Computer from $530.00 to $800.00 and gave the stock a "neutral" rating in a research note on Wednesday. Susquehanna boosted their target price on shares of Super Micro Computer from $162.00 to $250.00 and gave the company a "negative" rating in a research report on Tuesday, January 30th. Bank of America upped their price target on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Finally, Northland Securities lifted their price objective on Super Micro Computer from $925.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $954.38.

Insider Activity

In related news, Director Daniel W. Fairfax sold 300 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $540.00, for a total transaction of $162,000.00. Following the completion of the transaction, the director now owns 20,087 shares in the company, valued at approximately $10,846,980. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Daniel W. Fairfax sold 300 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $540.00, for a total transaction of $162,000.00. Following the completion of the sale, the director now owns 20,087 shares of the company's stock, valued at $10,846,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Don W. Clegg sold 28,727 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the sale, the senior vice president now owns 2,110 shares of the company's stock, valued at $1,845,342.70. The disclosure for this sale can be found here. Insiders have sold a total of 34,027 shares of company stock worth $29,655,672 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

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.