Super Micro Computer, Inc. (NASDAQ:SMCI) Position Reduced by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 11.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 36,675 shares of the company’s stock after selling 4,882 shares during the period. Super Micro Computer accounts for about 2.1% of Navellier & Associates Inc.’s holdings, making the stock its 6th biggest holding. Navellier & Associates Inc.’s holdings in Super Micro Computer were worth $15,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its position in shares of Super Micro Computer by 22.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock valued at $1,090,000 after buying an additional 478 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Super Micro Computer by 34.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,174 shares of the company’s stock valued at $3,820,000 after buying an additional 2,335 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Super Micro Computer in the 3rd quarter valued at $548,000. FWG Holdings LLC acquired a new position in Super Micro Computer in the 3rd quarter valued at $1,791,000. Finally, Prospera Financial Services Inc raised its stake in Super Micro Computer by 41.4% in the 3rd quarter. Prospera Financial Services Inc now owns 3,031 shares of the company’s stock valued at $1,262,000 after purchasing an additional 888 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Performance

Shares of Super Micro Computer stock opened at $25.80 on Thursday. The business has a 50-day moving average of $38.76 and a 200 day moving average of $61.38. Super Micro Computer, Inc. has a 12 month low of $17.25 and a 12 month high of $122.90. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 12.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 28th. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Barclays cut their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Finally, Mizuho initiated coverage on Super Micro Computer in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 target price for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.89.

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.