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

Connecticut Wealth Management LLC acquired a new stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in the fourth quarter, HoldingsChannel reports. The firm acquired 2,000 shares of the company’s stock, valued at approximately $569,000.

A number of other institutional investors have also recently made changes to their positions in SMCI. Allworth Financial LP purchased a new position in shares of Super Micro Computer during the third quarter valued at approximately $27,000. Optimum Investment Advisors purchased a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Super Micro Computer during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Insiders Place Their Bets

In other Super Micro Computer news, Director Liang Chiu-Chu Sara Liu sold 525 shares of Super Micro Computer stock in a transaction on Monday, April 29th. The shares were sold at an average price of $869.62, for a total value of $456,550.50. Following the transaction, the director now directly owns 3,459 shares of the company’s stock, valued at $3,008,015.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Don W. Clegg sold 28,727 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the sale, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Liang Chiu-Chu Sara Liu sold 525 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $869.62, for a total transaction of $456,550.50. Following the sale, the director now directly owns 3,459 shares in the company, valued at $3,008,015.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,252 shares of company stock valued at $29,950,223. 17.60% of the stock is currently owned by insiders.

Super Micro Computer Stock Up 5.0 %

NASDAQ SMCI traded up $38.84 on Monday, hitting $821.54. The stock had a trading volume of 4,187,110 shares, compared to its average volume of 9,579,604. The business’s fifty day moving average price is $946.34 and its 200 day moving average price is $586.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.69 and a quick ratio of 2.29. Super Micro Computer, Inc. has a 52-week low of $131.06 and a 52-week high of $1,229.00. The stock has a market cap of $45.95 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. KeyCorp assumed coverage on Super Micro Computer in a research report on Wednesday, April 24th. They set a “sector weight” rating for the company. Argus assumed coverage on shares of Super Micro Computer in a research note on Wednesday, March 6th. They set a “buy” rating and a $1,350.00 price target for the company. Northland Securities lifted their price target on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. The Goldman Sachs Group decreased their price target on shares of Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company decreased their price target on shares of Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $954.38.

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.