Parsons Capital Management Inc. RI Invests $270,000 in Super Micro Computer, Inc. (NASDAQ:SMCI)

Parsons Capital Management Inc. RI acquired a new position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 267 shares of the company’s stock, valued at approximately $270,000.

A number of other large investors also recently modified their holdings of the business. CWM LLC raised its holdings in shares of Super Micro Computer by 9.4% in the 3rd quarter. CWM LLC now owns 510 shares of the company’s stock valued at $140,000 after purchasing an additional 44 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Super Micro Computer by 436.9% in the 3rd quarter. Global Retirement Partners LLC now owns 553 shares of the company’s stock valued at $155,000 after purchasing an additional 450 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Super Micro Computer by 835.3% in the 3rd quarter. Avior Wealth Management LLC now owns 318 shares of the company’s stock valued at $87,000 after purchasing an additional 284 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Super Micro Computer in the 3rd quarter valued at about $62,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of Super Micro Computer in the 3rd quarter valued at about $263,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Super Micro Computer in a report on Friday, February 16th. They issued an “equal weight” rating and a $960.00 price target on the stock. Susquehanna increased their price target on shares of Super Micro Computer from $162.00 to $250.00 and gave the company a “negative” rating in a report on Tuesday, January 30th. KeyCorp assumed coverage on shares of Super Micro Computer in a report on Wednesday. They issued a “sector weight” rating on the stock. Argus assumed coverage on shares of Super Micro Computer in a report on Wednesday, March 6th. They issued a “buy” rating and a $1,350.00 price target on the stock. Finally, StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and a consensus price target of $949.85.

Insider Buying and Selling

In related news, Director Liang Chiu-Chu Sara Liu sold 962 shares of Super Micro Computer stock in a transaction on Monday, January 29th. The shares were sold at an average price of $476.10, for a total transaction of $458,008.20. Following the completion of the transaction, the director now owns 2,714 shares of the company’s stock, valued at $1,292,135.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Super Micro Computer news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total value of $25,123,772.39. Following the completion of the sale, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Liang Chiu-Chu Sara Liu sold 962 shares of Super Micro Computer stock in a transaction on Monday, January 29th. The shares were sold at an average price of $476.10, for a total transaction of $458,008.20. Following the completion of the sale, the director now directly owns 2,714 shares of the company’s stock, valued at $1,292,135.40. The disclosure for this sale can be found here. Insiders sold 34,989 shares of company stock valued at $30,113,681 over the last quarter. Insiders own 17.60% of the company’s stock.

Super Micro Computer Price Performance

Super Micro Computer stock traded up $70.04 during mid-day trading on Friday, reaching $857.44. The company had a trading volume of 7,068,025 shares, compared to its average volume of 5,787,591. Super Micro Computer, Inc. has a fifty-two week low of $93.34 and a fifty-two 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 company has a market cap of $47.96 billion, a P/E ratio of 66.94, a P/E/G ratio of 0.76 and a beta of 1.28. The business has a fifty day simple moving average of $948.90 and a 200 day simple moving average of $568.53.

Super Micro Computer (NASDAQ:SMCI) last issued 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. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $2.80 billion. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. Super Micro Computer’s revenue was up 103.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.09 earnings per share. On average, equities research analysts predict that Super Micro Computer, Inc. will post 20.24 earnings per share for the current 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.