Wells Fargo & Company Cuts Super Micro Computer (NASDAQ:SMCI) Price Target to $890.00

Super Micro Computer (NASDAQ:SMCI) had its price objective decreased by Wells Fargo & Company from $960.00 to $890.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. began coverage on Super Micro Computer in a research note on Monday, March 25th. They set an overweight rating and a $1,150.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of Super Micro Computer from $937.00 to $800.00 and set a neutral rating for the company in a report on Wednesday. Loop Capital upped their price objective on shares of Super Micro Computer from $600.00 to $1,500.00 and gave the company a buy rating in a report on Tuesday, April 16th. Barclays upped their price objective on shares of Super Micro Computer from $691.00 to $961.00 and gave the company an overweight rating in a report on Tuesday, February 13th. Finally, Northland Securities upped their price objective on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an outperform rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $954.38.

Super Micro Computer Stock Performance

NASDAQ SMCI opened at $782.70 on Wednesday. The company has a market cap of $43.78 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The stock’s 50 day simple moving average is $947.89 and its 200-day simple moving average is $579.19. Super Micro Computer has a 1-year low of $131.06 and a 1-year high of $1,229.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.69 and a quick ratio of 1.19.

Insider Buying and Selling at Super Micro Computer

In other news, SVP Don W. Clegg sold 28,727 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Don W. Clegg sold 28,727 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherman Tuan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the sale, the director now directly owns 22,113 shares in the company, valued at approximately $19,326,319.74. The disclosure for this sale can be found here. Insiders have sold 34,252 shares of company stock valued at $29,950,223 over the last 90 days. 17.60% of the stock is owned by insiders.

Institutional Trading of Super Micro Computer

Several hedge funds have recently made changes to their positions in SMCI. Vanguard Group Inc. raised its holdings in Super Micro Computer by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 4,929,065 shares of the company’s stock valued at $1,401,136,000 after acquiring an additional 194,700 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Super Micro Computer by 56,764.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,093 shares of the company’s stock valued at $375,818,000 after acquiring an additional 1,319,768 shares in the last quarter. Northern Trust Corp raised its holdings in Super Micro Computer by 7.4% in the third quarter. Northern Trust Corp now owns 651,010 shares of the company’s stock valued at $178,520,000 after acquiring an additional 44,678 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Super Micro Computer in the third quarter valued at approximately $140,751,000. Finally, Bank of New York Mellon Corp raised its holdings in Super Micro Computer by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 487,044 shares of the company’s stock valued at $133,557,000 after acquiring an additional 20,296 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.