Exchange Traded Concepts LLC Has $2.89 Million Stake in Super Micro Computer, Inc. (NASDAQ:SMCI)

Exchange Traded Concepts LLC increased its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI) by 1,408.1% in the first quarter, Holdings Channel reports. The institutional investor owned 84,513 shares of the company’s stock after buying an additional 78,909 shares during the period. Exchange Traded Concepts LLC’s holdings in Super Micro Computer were worth $2,894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wahed Invest LLC raised its position in Super Micro Computer by 2.9% during the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after purchasing an additional 352 shares during the last quarter. Shelton Capital Management raised its position in Super Micro Computer by 6.5% during the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock worth $240,000 after purchasing an additional 480 shares during the last quarter. AlphaQuest LLC raised its position in shares of Super Micro Computer by 233.0% in the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company’s stock worth $33,000 after acquiring an additional 762 shares in the last quarter. Griffith & Werner Inc. raised its position in shares of Super Micro Computer by 3.6% in the 1st quarter. Griffith & Werner Inc. now owns 23,786 shares of the company’s stock worth $814,000 after acquiring an additional 820 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Super Micro Computer by 203.2% in the 4th quarter. Blue Trust Inc. now owns 1,231 shares of the company’s stock worth $38,000 after acquiring an additional 825 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO David E. Weigand sold 67,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total value of $2,949,340.00. Following the transaction, the chief financial officer now owns 88,599 shares in the company, valued at $3,900,127.98. The trade was a 43.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. KGI Securities assumed coverage on Super Micro Computer in a research report on Wednesday, May 7th. They issued a “neutral” rating for the company. Barclays reissued an “equal weight” rating and issued a $34.00 price objective on shares of Super Micro Computer in a research report on Tuesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $39.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Wall Street Zen raised Super Micro Computer to a “sell” rating in a research report on Thursday, May 8th. Finally, Wedbush reissued a “neutral” rating and issued a $30.00 price objective (down from $40.00) on shares of Super Micro Computer in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.63.

Super Micro Computer Stock Performance

Shares of SMCI opened at $43.69 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a 50 day moving average price of $37.83 and a two-hundred day moving average price of $37.31. The firm has a market capitalization of $26.07 billion, a P/E ratio of 21.93 and a beta of 1.40. Super Micro Computer, Inc. has a 52 week low of $17.25 and a 52 week high of $101.40.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. Equities analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share 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.