Avidian Wealth Enterprises LLC Has $316,000 Stock Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Avidian Wealth Enterprises LLC reduced its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 98.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 760 shares of the company’s stock after selling 39,908 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Super Micro Computer were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SMCI. Acadian Asset Management LLC purchased a new position in Super Micro Computer in the first quarter valued at about $98,000. Vanguard Group Inc. increased its holdings in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after buying an additional 1,265,542 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Super Micro Computer by 168.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,592 shares of the company’s stock valued at $59,180,000 after acquiring an additional 36,795 shares in the last quarter. SG Americas Securities LLC lifted its stake in Super Micro Computer by 24.8% in the second quarter. SG Americas Securities LLC now owns 15,432 shares of the company’s stock valued at $12,644,000 after acquiring an additional 3,064 shares during the last quarter. Finally, SlateStone Wealth LLC bought a new stake in Super Micro Computer in the second quarter worth approximately $683,000. 84.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SMCI shares. Wells Fargo & Company cut their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Super Micro Computer in a research report on Wednesday, August 7th. Loop Capital lowered their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered Super Micro Computer from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $50.00 to $23.00 in a report on Wednesday. Finally, Wedbush reiterated a “neutral” rating and set a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a report on Monday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.89.

Super Micro Computer Trading Up 12.2 %

Shares of SMCI opened at $25.48 on Friday. The stock’s 50-day moving average price is $42.72 and its 200 day moving average price is $65.35. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 12.80 and a beta of 1.28. Super Micro Computer, Inc. has a 12-month low of $20.20 and a 12-month high of $122.90.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 142.9% compared to the same quarter last year. As a group, research analysts predict that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.

Super Micro Computer Company 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.