Cornerstone Wealth Management LLC Makes New Investment in Super Micro Computer, Inc. (NASDAQ:SMCI)

Cornerstone Wealth Management LLC acquired a new stake in Super Micro Computer, Inc. (NASDAQ:SMCIFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,168 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Salem Investment Counselors Inc. bought a new stake in Super Micro Computer during the fourth quarter worth $30,000. Trust Co. of Vermont raised its holdings in shares of Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Super Micro Computer in the 4th quarter valued at about $43,000. Clean Yield Group acquired a new stake in Super Micro Computer in the 4th quarter valued at about $46,000. Finally, Rise Advisors LLC grew its holdings in Super Micro Computer by 909.5% during the fourth quarter. Rise Advisors LLC now owns 1,696 shares of the company’s stock worth $52,000 after purchasing an additional 1,528 shares during the period. 84.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SMCI shares. StockNews.com cut Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. downgraded Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Argus downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Wedbush restated a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Finally, Barclays decreased their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.89.

Read Our Latest Stock Report on SMCI

Super Micro Computer Stock Performance

NASDAQ:SMCI opened at $33.27 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. Super Micro Computer, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $122.90. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 16.70 and a beta of 1.31. The stock has a fifty day moving average price of $33.83 and a 200-day moving average price of $44.79.

About Super Micro Computer

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Super Micro Computer (NASDAQ:SMCI)

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