Prosperity Wealth Management Inc. Invests $440,000 in Super Micro Computer, Inc. (NASDAQ:SMCI)

Prosperity Wealth Management Inc. bought a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 14,450 shares of the company’s stock, valued at approximately $440,000.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Super Micro Computer by 968.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,651,134 shares of the company’s stock worth $111,287,000 after acquiring an additional 3,309,398 shares during the period. Bank of New York Mellon Corp increased its position in Super Micro Computer by 798.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,944,620 shares of the company’s stock valued at $89,752,000 after acquiring an additional 2,616,757 shares in the last quarter. Amundi acquired a new stake in Super Micro Computer in the 4th quarter valued at about $41,563,000. Sumitomo Mitsui Trust Group Inc. increased its position in Super Micro Computer by 956.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,018 shares of the company’s stock valued at $40,143,000 after acquiring an additional 1,192,366 shares in the last quarter. Finally, National Pension Service acquired a new stake in shares of Super Micro Computer during the 4th quarter worth approximately $28,932,000. 84.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SMCI. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a research note on Thursday, March 6th. Rosenblatt Securities started coverage on shares of Super Micro Computer in a research report on Monday. They set a “buy” rating and a $60.00 price objective for the company. Finally, Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.57.

Super Micro Computer Stock Up 10.7 %

Shares of SMCI opened at $40.84 on Wednesday. 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 $119.80. The business’s 50 day moving average is $37.41 and its 200 day moving average is $38.32. The company has a market capitalization of $24.24 billion, a PE ratio of 20.50 and a beta of 1.21.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP George Kao sold 71,720 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is currently owned by company insiders.

Super Micro Computer 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.