Meridian Wealth Management LLC Buys Shares of 648 Super Micro Computer, Inc. (NASDAQ:SMCI)

Meridian Wealth Management LLC purchased a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) during the third quarter, according to its most recent filing with the SEC. The firm purchased 648 shares of the company’s stock, valued at approximately $270,000.

Other large investors have also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. raised its holdings in Super Micro Computer by 400.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares in the last quarter. Moser Wealth Advisors LLC purchased a new position in shares of Super Micro Computer in the 2nd quarter worth approximately $25,000. Hazlett Burt & Watson Inc. raised its stake in shares of Super Micro Computer by 141.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in Super Micro Computer during the second quarter valued at approximately $42,000. Finally, First PREMIER Bank boosted its stake in Super Micro Computer by 126.1% in the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after acquiring an additional 29 shares in the last quarter. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Price Performance

NASDAQ:SMCI opened at $38.41 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company has a 50 day moving average price of $38.08 and a 200-day moving average price of $60.35. Super Micro Computer, Inc. has a 1-year low of $17.25 and a 1-year high of $122.90. The firm has a market cap of $21.48 billion, a price-to-earnings ratio of 19.28 and a beta of 1.28.

Analysts Set New Price Targets

SMCI has been the subject of several analyst reports. Wedbush reiterated a “neutral” rating and set a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Mizuho started coverage on shares of Super Micro Computer in a report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. cut shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Finally, 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 research note on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.89.

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.