Prestige Wealth Management Group LLC Has $83,000 Stock Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Prestige Wealth Management Group LLC grew its stake in Super Micro Computer, Inc. (NASDAQ:SMCI) by 1,189.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,721 shares of the company’s stock after acquiring an additional 2,510 shares during the period. Prestige Wealth Management Group LLC’s holdings in Super Micro Computer were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Clear Creek Financial Management LLC acquired a new stake in shares of Super Micro Computer in the 4th quarter valued at $635,000. Nepsis Inc. bought a new position in Super Micro Computer in the fourth quarter valued at about $13,625,000. Sanctuary Advisors LLC increased its position in Super Micro Computer by 254.7% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $12,756,000 after purchasing an additional 21,997 shares during the period. Fifth Third Bancorp raised its holdings in Super Micro Computer by 1,476.6% during the 4th quarter. Fifth Third Bancorp now owns 12,266 shares of the company’s stock worth $374,000 after purchasing an additional 11,488 shares during the last quarter. Finally, Bridgewater Associates LP lifted its position in Super Micro Computer by 921.1% during the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock valued at $67,084,000 after purchasing an additional 145,327 shares during the period. 84.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, February 11th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. StockNews.com upgraded Super Micro Computer to a “sell” rating in a research report on Friday, February 28th. Finally, Barclays started coverage on Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.00.

Insider Buying and Selling

In other news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares in the company, valued at approximately $981,785.52. This represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,473 shares of company stock valued at $6,771,552. Company insiders own 17.60% of the company’s stock.

Super Micro Computer Stock Down 2.6 %

Super Micro Computer stock opened at $40.64 on Wednesday. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $110.61. 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 company has a 50 day moving average of $39.07 and a 200-day moving average of $37.83. The stock has a market capitalization of $24.12 billion, a PE ratio of 20.40 and a beta of 1.21.

About Super Micro Computer

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.