Cannell & Spears LLC Buys New Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Cannell & Spears LLC purchased a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 291,290 shares of the company’s stock, valued at approximately $8,879,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Salem Investment Counselors Inc. bought a new position in Super Micro Computer in the fourth quarter worth about $30,000. Trust Co. of Vermont raised its position in shares of Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 900 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Super Micro Computer by 2,890.9% in the 4th 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 position in shares of Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after purchasing an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in Super Micro Computer in the fourth quarter worth $31,000. 84.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, February 11th. StockNews.com upgraded shares of Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Rosenblatt Securities initiated coverage on Super Micro Computer in a research report on Monday, March 10th. They issued a “buy” rating and a $60.00 price target on the stock. Northland Securities set a $70.00 price objective on Super Micro Computer in a research report on Thursday, March 6th. Finally, Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.00.

Super Micro Computer Stock Performance

SMCI stock opened at $34.26 on Monday. The company has a market cap of $20.33 billion, a P/E ratio of 17.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. Super Micro Computer, Inc. has a 1 year low of $17.25 and a 1 year high of $106.90. The stock’s fifty day moving average price is $39.33 and its 200-day moving average price is $37.72.

Insiders Place Their Bets

In related news, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP George Kao sold 71,720 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,473 shares of company stock valued at $6,771,552. Insiders own 17.60% of the company’s stock.

Super Micro Computer 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.