Cannell & Spears LLC Invests $8.88 Million in Super Micro Computer, Inc. (NASDAQ:SMCI)

Cannell & Spears LLC purchased a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 291,290 shares of the company’s stock, valued at approximately $8,879,000.

Several other hedge funds have also bought and sold shares of the stock. Benjamin Edwards Inc. bought a new stake in shares of Super Micro Computer in the third quarter worth about $383,000. Parkside Financial Bank & Trust increased its stake in Super Micro Computer by 2,890.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after acquiring an additional 954 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after acquiring an additional 893 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Super Micro Computer in the fourth quarter valued at $30,000. Finally, Trust Co. of Vermont increased its position in Super Micro Computer by 900.0% in the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMCI. JPMorgan Chase & Co. upgraded shares of Super Micro Computer from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $35.00 to $45.00 in a report on Friday, March 21st. StockNews.com upgraded Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Rosenblatt Securities started coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They set a “buy” rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Super Micro Computer Price Performance

SMCI opened at $34.26 on Monday. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 17.20 and a beta of 1.21. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. Super Micro Computer, Inc. has a 12-month low of $17.25 and a 12-month high of $106.90. The business’s fifty day simple moving average is $39.33 and its 200-day simple moving average is $37.72.

Insider Activity

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,473 shares of company stock worth $6,771,552. Corporate insiders own 17.60% of the company’s stock.

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.