Elite Wealth Management Inc. Makes New Investment in Super Micro Computer, Inc. (NASDAQ:SMCI)

Elite Wealth Management Inc. acquired a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,904 shares of the company's stock, valued at approximately $4,953,000. Super Micro Computer accounts for about 0.2% of Elite Wealth Management Inc.'s holdings, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CENTRAL TRUST Co acquired a new position in shares of Super Micro Computer in the first quarter valued at approximately $76,000. V Square Quantitative Management LLC bought a new stake in Super Micro Computer in the first quarter valued at approximately $194,000. Simplicity Wealth LLC bought a new stake in Super Micro Computer in the first quarter valued at approximately $629,000. Sage Mountain Advisors LLC bought a new stake in Super Micro Computer in the first quarter valued at approximately $451,000. Finally, Moody Lynn & Lieberson LLC bought a new stake in Super Micro Computer in the first quarter valued at approximately $328,000. Institutional investors and hedge funds own 84.06% of the company's stock.

Insider Transactions at Super Micro Computer

In other news, Director Liang Chiu-Chu Sara Liu sold 525 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $869.62, for a total transaction of $456,550.50. Following the completion of the transaction, the director now owns 3,459 shares in the company, valued at approximately $3,008,015.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the transaction, the director now owns 22,113 shares in the company, valued at approximately $19,326,319.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Liang Chiu-Chu Sara Liu sold 525 shares of the firm's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $869.62, for a total value of $456,550.50. Following the completion of the transaction, the director now owns 3,459 shares of the company's stock, valued at approximately $3,008,015.58. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate insiders.

Super Micro Computer Stock Performance

Shares of Super Micro Computer stock traded down $25.89 during trading hours on Thursday, hitting $847.38. 11,446,677 shares of the company's stock traded hands, compared to its average volume of 9,083,181. Super Micro Computer, Inc. has a 12-month low of $158.26 and a 12-month high of $1,229.00. The stock has a market capitalization of $47.39 billion, a price-to-earnings ratio of 47.50, a PEG ratio of 0.81 and a beta of 1.34. The company has a fifty day simple moving average of $895.89 and a 200-day simple moving average of $640.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.69 and a quick ratio of 2.29.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $6.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.42 by $1.14. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.96 billion. Super Micro Computer had a return on equity of 34.09% and a net margin of 8.88%. Equities research analysts anticipate that Super Micro Computer, Inc. will post 21.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SMCI. StockNews.com cut Super Micro Computer from a "hold" rating to a "sell" rating in a report on Thursday, May 9th. JPMorgan Chase & Co. initiated coverage on Super Micro Computer in a report on Monday, March 25th. They issued an "overweight" rating and a $1,150.00 target price on the stock. Barclays increased their target price on Super Micro Computer from $691.00 to $961.00 and gave the stock an "overweight" rating in a report on Tuesday, February 13th. Wedbush increased their target price on Super Micro Computer from $530.00 to $800.00 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group cut their target price on Super Micro Computer from $937.00 to $800.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $954.38.

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.

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