HB Wealth Management LLC Sells 22,927 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

HB Wealth Management LLC trimmed its position in Super Micro Computer, Inc. (NASDAQ:SMCI) by 54.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,941 shares of the company’s stock after selling 22,927 shares during the period. HB Wealth Management LLC’s holdings in Super Micro Computer were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SMCI. Allspring Global Investments Holdings LLC increased its holdings in Super Micro Computer by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company’s stock worth $854,000 after purchasing an additional 302 shares in the last quarter. Wahed Invest LLC increased its holdings in Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after acquiring an additional 352 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Super Micro Computer by 0.3% in the 1st quarter. Victory Capital Management Inc. now owns 162,589 shares of the company’s stock worth $5,567,000 after acquiring an additional 457 shares during the last quarter. Shelton Capital Management lifted its position in shares of Super Micro Computer by 6.5% during the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock worth $240,000 after acquiring an additional 480 shares in the last quarter. Finally, IMG Wealth Management Inc. lifted its position in shares of Super Micro Computer by 90.7% during the first quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company’s stock worth $36,000 after acquiring an additional 500 shares in the last quarter. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Price Performance

Shares of Super Micro Computer stock opened at $60.71 on Thursday. Super Micro Computer, Inc. has a one year low of $17.25 and a one year high of $72.44. The stock’s fifty day moving average is $46.94 and its 200 day moving average is $40.47. The stock has a market cap of $36.23 billion, a P/E ratio of 31.94, a P/E/G ratio of 2.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.95 and a current ratio of 6.66.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $0.66 EPS. Super Micro Computer’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other Super Micro Computer news, CEO Charles Liang sold 200,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $60.00, for a total value of $12,000,000.00. Following the completion of the sale, the chief executive officer owned 40,426,120 shares in the company, valued at approximately $2,425,567,200. This represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Liang Chiu-Chu Sara Liu sold 200,000 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $60.00, for a total value of $12,000,000.00. Following the transaction, the director owned 40,426,120 shares of the company’s stock, valued at approximately $2,425,567,200. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,067,000 shares of company stock worth $53,949,340. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Northland Securities set a $59.00 price objective on Super Micro Computer in a report on Wednesday, May 7th. Citigroup restated a “neutral” rating and set a $52.00 price target (up previously from $37.00) on shares of Super Micro Computer in a research report on Friday, July 11th. Raymond James Financial began coverage on Super Micro Computer in a research report on Wednesday, June 25th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 price objective on shares of Super Micro Computer in a report on Wednesday, May 7th. Finally, Rosenblatt Securities decreased their price objective on Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.89.

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.