Sovereign Financial Group Inc. Buys 416 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Sovereign Financial Group Inc. increased its stake in Super Micro Computer, Inc. (NASDAQ:SMCI) by 36.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,550 shares of the company’s stock after purchasing an additional 416 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Super Micro Computer were worth $441,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP bought a new stake in shares of Super Micro Computer in the third quarter valued at $27,000. Optimum Investment Advisors purchased a new stake in Super Micro Computer during the fourth quarter valued at about $28,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Super Micro Computer during the fourth quarter worth about $30,000. Cypress Capital Management LLC WY bought a new stake in shares of Super Micro Computer in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Super Micro Computer during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SMCI shares. Rosenblatt Securities reissued a “buy” rating and set a $1,300.00 target price on shares of Super Micro Computer in a report on Wednesday, May 1st. Wedbush lifted their target price on Super Micro Computer from $530.00 to $800.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Loop Capital increased their price target on shares of Super Micro Computer from $600.00 to $1,500.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Barclays boosted their price objective on shares of 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, Susquehanna increased their target price on shares of Super Micro Computer from $162.00 to $250.00 and gave the stock a “negative” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $954.38.

Super Micro Computer Price Performance

Shares of SMCI traded down $11.06 during midday trading on Tuesday, reaching $819.29. The stock had a trading volume of 4,072,302 shares, compared to its average volume of 9,531,734. The company has a market capitalization of $45.82 billion, a price-to-earnings ratio of 45.92, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. The company has a current ratio of 4.69, a quick ratio of 2.29 and a debt-to-equity ratio of 0.35. Super Micro Computer, Inc. has a 12-month low of $131.06 and a 12-month high of $1,229.00. The company’s 50-day moving average is $945.42 and its 200 day moving average is $590.67.

Insiders Place Their Bets

In related news, SVP Don W. Clegg sold 28,727 shares of the 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 transaction, 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 legal filing with the SEC, 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 dated 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 completion of 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 at this hyperlink. Also, Director Sherman Tuan sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 22,113 shares in the company, valued at $19,326,319.74. The disclosure for this sale can be found here. Insiders sold a total of 34,252 shares of company stock valued at $29,950,223 over the last quarter. 17.60% of the stock is owned by corporate 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.