QRG Capital Management Inc. Sells 428 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

QRG Capital Management Inc. cut its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 42.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 575 shares of the company’s stock after selling 428 shares during the quarter. QRG Capital Management Inc.’s holdings in Super Micro Computer were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SMCI. Sound Income Strategies LLC raised its stake in shares of Super Micro Computer by 14.4% in the first quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock valued at $104,000 after buying an additional 13 shares during the period. Invst LLC raised its stake in Super Micro Computer by 4.3% in the 1st quarter. Invst LLC now owns 337 shares of the company’s stock valued at $350,000 after acquiring an additional 14 shares during the period. Versant Capital Management Inc raised its stake in Super Micro Computer by 42.9% in the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock valued at $51,000 after acquiring an additional 15 shares during the period. TFC Financial Management Inc. lifted its holdings in Super Micro Computer by 23.1% during the first quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock valued at $81,000 after purchasing an additional 15 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Super Micro Computer by 1.3% in the first quarter. Valeo Financial Advisors LLC now owns 1,270 shares of the company’s stock worth $1,283,000 after purchasing an additional 16 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the sale, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Super Micro Computer news, Director Tally C. Liu sold 500 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $839.17, for a total transaction of $419,585.00. Following the completion of the transaction, the director now owns 27,813 shares of the company’s stock, valued at approximately $23,339,835.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the transaction, the director now directly owns 18,887 shares of the company’s stock, valued at $15,147,374. The disclosure for this sale can be found here. Company insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

SMCI has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Super Micro Computer from $1,150.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group cut their price target on Super Micro Computer from $775.00 to $675.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Bank of America lowered Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their target price for the company from $1,090.00 to $700.00 in a report on Wednesday, August 7th. Susquehanna increased their price target on shares of Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Super Micro Computer from $890.00 to $650.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Super Micro Computer has an average rating of “Hold” and an average target price of $911.85.

Super Micro Computer Trading Up 6.3 %

NASDAQ SMCI opened at $540.98 on Tuesday. The company has a quick ratio of 2.29, a current ratio of 4.69 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $782.61 and its two-hundred day simple moving average is $840.22. Super Micro Computer, Inc. has a twelve month low of $226.59 and a twelve month high of $1,229.00. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 0.40 and a beta of 1.27.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $6.25 EPS for the quarter, missing the consensus estimate of $7.63 by ($1.38). Super Micro Computer had a return on equity of 35.06% and a net margin of 8.09%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business posted $3.43 earnings per share. The company’s revenue was up 142.9% compared to the same quarter last year. Research analysts forecast that Super Micro Computer, Inc. will post 29.32 EPS for the current fiscal year.

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.