Cannell & Co. Sells 45,876 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Cannell & Co. lowered its stake in Super Micro Computer, Inc. (NASDAQ:SMCI) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,758 shares of the company’s stock after selling 45,876 shares during the quarter. Super Micro Computer accounts for approximately 2.0% of Cannell & Co.’s portfolio, 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.

Several other hedge funds also recently modified their holdings of SMCI. International Assets Investment Management LLC boosted its holdings in Super Micro Computer by 56,764.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,093 shares of the company’s stock worth $375,818,000 after acquiring an additional 1,319,768 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Super Micro Computer by 7.4% in the 3rd quarter. Northern Trust Corp now owns 651,010 shares of the company’s stock worth $178,520,000 after buying an additional 44,678 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Super Micro Computer in the 3rd quarter worth about $140,751,000. Bank of New York Mellon Corp boosted its holdings in shares of Super Micro Computer by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 487,044 shares of the company’s stock worth $133,557,000 after buying an additional 20,296 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Super Micro Computer by 161.2% in the 3rd quarter. FMR LLC now owns 479,338 shares of the company’s stock worth $131,444,000 after buying an additional 295,835 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Trading Down 15.3 %

Shares of NASDAQ:SMCI traded down $131.34 during trading on Wednesday, reaching $727.46. 8,311,127 shares of the company traded hands, compared to its average volume of 9,663,996. The firm has a market capitalization of $40.69 billion, a price-to-earnings ratio of 54.77, a P/E/G ratio of 0.79 and a beta of 1.28. Super Micro Computer, Inc. has a 52-week low of $101.71 and a 52-week high of $1,229.00. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $952.07 and its 200-day moving average is $576.78.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Monday, January 29th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.65. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm posted $3.09 earnings per share. The firm’s revenue was up 103.0% on a year-over-year basis. As a group, analysts forecast that Super Micro Computer, Inc. will post 20.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SMCI shares. The Goldman Sachs Group started coverage on Super Micro Computer in a research note on Monday, March 4th. They issued a “neutral” rating and a $941.00 price objective on the stock. Wedbush boosted their price objective on Super Micro Computer from $530.00 to $800.00 and gave the company a “neutral” rating in a research note on Wednesday. Susquehanna upped their price target on Super Micro Computer from $162.00 to $250.00 and gave the company a “negative” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. began coverage on Super Micro Computer in a research report on Monday, March 25th. They set an “overweight” rating and a $1,150.00 price target on the stock. Finally, Barclays upped their price target on Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and an average target price of $970.62.

Insider Buying and Selling

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