abrdn plc Acquires 14,554 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

abrdn plc increased its position in Super Micro Computer, Inc. (NASDAQ:SMCI) by 337.6% in the third quarter, HoldingsChannel reports. The firm owned 18,865 shares of the company’s stock after purchasing an additional 14,554 shares during the quarter. abrdn plc’s holdings in Super Micro Computer were worth $7,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vivid Wealth Management LLC lifted its stake in shares of Super Micro Computer by 31.0% in the 3rd quarter. Vivid Wealth Management LLC now owns 2,726 shares of the company’s stock valued at $1,135,000 after purchasing an additional 645 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Super Micro Computer by 82.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 968 shares of the company’s stock valued at $403,000 after purchasing an additional 436 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Super Micro Computer by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,873 shares of the company’s stock valued at $2,445,000 after purchasing an additional 395 shares during the period. National Mutual Insurance Federation of Agricultural Cooperatives purchased a new position in shares of Super Micro Computer in the 3rd quarter valued at approximately $3,123,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Super Micro Computer by 45.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,497 shares of the company’s stock valued at $1,456,000 after purchasing an additional 1,097 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SMCI shares. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Super Micro Computer in a research note on Wednesday, August 7th. Argus cut Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $109.00 to $70.00 in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. Finally, Loop Capital lowered their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.33.

Super Micro Computer Stock Performance

NASDAQ SMCI opened at $26.03 on Tuesday. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of 13.08 and a beta of 1.28. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $43.93 and a 200-day moving average price of $66.15. Super Micro Computer, Inc. has a twelve month low of $23.90 and a twelve month high of $122.90.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s revenue was up 142.9% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. As a group, equities research analysts predict that Super Micro Computer, Inc. will post 2.85 EPS for the current fiscal year.

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.