Lord Abbett & CO. LLC Decreases Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Lord Abbett & CO. LLC trimmed its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI) by 63.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,934 shares of the company’s stock after selling 105,548 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.11% of Super Micro Computer worth $61,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Super Micro Computer in the fourth quarter worth approximately $30,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Super Micro Computer in the fourth quarter worth approximately $33,000. Bank of New Hampshire purchased a new stake in shares of Super Micro Computer in the first quarter worth approximately $35,000. VitalStone Financial LLC raised its holdings in shares of Super Micro Computer by 250.0% in the first quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after buying an additional 25 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Super Micro Computer by 28.6% in the fourth quarter. Allworth Financial LP now owns 126 shares of the company’s stock worth $36,000 after buying an additional 28 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wedbush increased their price objective on Super Micro Computer from $530.00 to $800.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Susquehanna increased their price objective on Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a research note on Monday. Wells Fargo & Company dropped their price objective on Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group dropped their price objective 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. Finally, Nomura cut Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 target price on the stock. in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $999.92.

Insider Buying and Selling

In related news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total value of $240,600.00. Following the completion of the transaction, the director now owns 18,887 shares in the company, valued at approximately $15,147,374. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Tally C. Liu sold 500 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $839.17, for a total value of $419,585.00. Following the completion of the transaction, the director now owns 27,813 shares in the company, valued at approximately $23,339,835.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total value of $240,600.00. Following the completion of the transaction, the director now owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The disclosure for this sale can be found here. Insiders sold 1,325 shares of company stock worth $1,116,736 in the last 90 days. Insiders own 17.60% of the company’s stock.

Super Micro Computer Stock Down 0.6 %

Shares of Super Micro Computer stock traded down $4.83 during trading on Friday, reaching $796.78. The company’s stock had a trading volume of 8,327,180 shares, compared to its average volume of 8,398,112. The company has a quick ratio of 2.29, a current ratio of 4.69 and a debt-to-equity ratio of 0.35. The company has a market cap of $44.56 billion, a price-to-earnings ratio of 44.51, a P/E/G ratio of 0.51 and a beta of 1.27. Super Micro Computer, Inc. has a 1-year low of $226.59 and a 1-year high of $1,229.00. The company has a 50-day simple moving average of $850.82 and a two-hundred day simple moving average of $797.67.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $6.56 earnings per share for the quarter, topping analysts’ consensus estimates of $5.42 by $1.14. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Super Micro Computer had a return on equity of 34.09% and a net margin of 8.88%. As a group, equities analysts forecast that Super Micro Computer, Inc. will post 21.11 earnings per share for the current year.

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.