Parsons Capital Management Inc. RI Boosts Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Parsons Capital Management Inc. RI increased its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI) by 144.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 652 shares of the company’s stock after purchasing an additional 385 shares during the period. Parsons Capital Management Inc. RI’s holdings in Super Micro Computer were worth $534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares during the period. GQG Partners LLC bought a new stake in Super Micro Computer in the 1st quarter worth $1,325,466,000. Norges Bank bought a new stake in Super Micro Computer in the 4th quarter worth $95,211,000. Principal Financial Group Inc. increased its position in shares of Super Micro Computer by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 326,359 shares of the company’s stock valued at $92,771,000 after acquiring an additional 14,959 shares during the period. Finally, Wolf Hill Capital Management LP bought a new position in shares of Super Micro Computer during the fourth quarter valued at about $77,996,000. Institutional investors own 84.06% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $802.00, for a total value of $240,600.00. Following the transaction, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Tally C. Liu sold 500 shares of Super Micro Computer stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $839.17, for a total transaction of $419,585.00. Following the transaction, the director now owns 27,813 shares in the company, valued at approximately $23,339,835.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel W. Fairfax sold 300 shares of the 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 sale, 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. 17.60% of the stock is owned by insiders.

Super Micro Computer Stock Performance

Shares of SMCI traded down $5.18 during mid-day trading on Monday, hitting $623.62. 6,868,439 shares of the company traded hands, compared to its average volume of 8,277,274. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 0.65 and a beta of 1.27. The stock has a 50-day moving average price of $764.92 and a two-hundred day moving average price of $843.24. 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 debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 EPS for the quarter, missing the consensus estimate of $7.63 by ($1.38). The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s revenue was up 142.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.43 EPS. Equities analysts anticipate that Super Micro Computer, Inc. will post 28.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SMCI shares. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their target price for the company from $1,090.00 to $700.00 in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $775.00 to $675.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Susquehanna boosted their price target on shares of Super Micro Computer from $285.00 to $325.00 and gave the company a “negative” rating in a research report on Monday, July 15th. Nomura lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 price objective for the company. in a report on Wednesday, July 10th. Finally, KeyCorp started coverage on Super Micro Computer in a research report on Wednesday, April 24th. They set a “sector weight” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $911.85.

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.