Connecticut Wealth Management LLC Makes New $569,000 Investment in Super Micro Computer, Inc. (NASDAQ:SMCI)

Connecticut Wealth Management LLC acquired a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP acquired a new position in shares of Super Micro Computer during the third quarter worth $27,000. Optimum Investment Advisors acquired a new stake in shares of Super Micro Computer during the 4th quarter worth about $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Super Micro Computer during the fourth quarter worth approximately $30,000. Cypress Capital Management LLC WY purchased a new position in Super Micro Computer in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. acquired a new stake in Super Micro Computer during the third quarter worth approximately $39,000. 84.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMCI. Susquehanna increased their target price on shares of Super Micro Computer from $162.00 to $250.00 and gave the company a “negative” rating in a research report on Tuesday, January 30th. Loop Capital boosted their target price on Super Micro Computer from $600.00 to $1,500.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group dropped their price target on Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Barclays boosted their price objective on Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, Northland Securities lifted their target price on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $954.38.

Super Micro Computer Stock Performance

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

Insider Transactions at Super Micro Computer

In related news, SVP Don W. Clegg sold 28,727 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total value of $25,123,772.39. Following the sale, the senior vice president now owns 2,110 shares of the company’s stock, valued at approximately $1,845,342.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the transaction, the director now directly owns 22,113 shares in the company, valued at approximately $19,326,319.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $25,123,772.39. Following the completion of the transaction, the senior vice president now owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The disclosure for this sale can be found here. Insiders have sold 34,252 shares of company stock valued at $29,950,223 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

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.