SlateStone Wealth LLC Takes Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

SlateStone Wealth LLC acquired a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 833 shares of the company’s stock, valued at approximately $683,000.

A number of other hedge funds have also recently modified their holdings of SMCI. FinTrust Capital Advisors LLC purchased a new position in shares of Super Micro Computer in the 4th quarter valued at $33,000. Bank of New Hampshire purchased a new position in shares of Super Micro Computer in the 1st quarter valued at $35,000. VitalStone Financial LLC grew its position in shares of Super Micro Computer by 250.0% in the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Cypress Capital Management LLC WY purchased a new position in shares of Super Micro Computer in the 4th quarter valued at $36,000. Finally, AlphaCentric Advisors LLC purchased a new position in Super Micro Computer during the 2nd quarter worth $42,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Stock Down 8.3 %

Shares of NASDAQ SMCI opened at $562.51 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. Super Micro Computer, Inc. has a 52 week low of $226.59 and a 52 week high of $1,229.00. The firm has a 50-day moving average price of $748.82 and a 200 day moving average price of $842.14. The stock has a market capitalization of $31.46 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 0.71 and a beta of 1.27.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 EPS for the quarter, missing the consensus estimate of $7.63 by ($1.38). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business earned $3.43 EPS. The firm’s revenue for the quarter was up 142.9% on a year-over-year basis. Equities research analysts anticipate that Super Micro Computer, Inc. will post 28.5 EPS for the current fiscal year.

Analyst Ratings Changes

SMCI has been the topic of several research reports. Susquehanna raised their price objective on shares of Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a research report on Monday, July 15th. Wells Fargo & Company lowered their price objective on shares of Super Micro Computer from $890.00 to $650.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Super Micro Computer from $1,150.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Bank of America downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $1,090.00 to $700.00 in a research report on Wednesday, August 7th. Finally, Nomura downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 price objective on the stock. in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and an average target price of $911.85.

Insiders Place Their Bets

In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the transaction, the director now owns 18,887 shares in the company, valued at $15,147,374. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Tally C. Liu sold 500 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $839.17, for a total value of $419,585.00. Following the completion of the transaction, the director now owns 27,813 shares of the company’s stock, valued at $23,339,835.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the transaction, the director now directly owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The disclosure for this sale can be found here. 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.