Bank of Nova Scotia Increases Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Bank of Nova Scotia lifted its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 864.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,523 shares of the company's stock after purchasing an additional 184,215 shares during the quarter. Bank of Nova Scotia's holdings in Super Micro Computer were worth $6,264,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SMCI. M&T Bank Corp raised its stake in shares of Super Micro Computer by 142.6% in the third quarter. M&T Bank Corp now owns 2,681 shares of the company's stock worth $1,117,000 after purchasing an additional 1,576 shares during the last quarter. Geode Capital Management LLC grew its holdings in Super Micro Computer by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company's stock worth $529,753,000 after buying an additional 16,007 shares in the last quarter. Sanctuary Advisors LLC raised its position in Super Micro Computer by 254.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $12,756,000 after buying an additional 21,997 shares during the last quarter. World Investment Advisors LLC boosted its holdings in Super Micro Computer by 13,210.5% during the 3rd quarter. World Investment Advisors LLC now owns 56,969 shares of the company's stock worth $23,722,000 after acquiring an additional 56,541 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Super Micro Computer by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 50,355 shares of the company's stock worth $20,968,000 after acquiring an additional 29,697 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

SMCI has been the subject of several recent analyst reports. Wedbush reaffirmed a "hold" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded Super Micro Computer from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $35.00 to $45.00 in a research note on Friday, March 21st. Northland Capmk upgraded Super Micro Computer to a "strong-buy" rating in a research note on Friday, December 20th. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a research report on Thursday, March 6th. Finally, Rosenblatt Securities initiated coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They issued a "buy" rating and a $60.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Super Micro Computer presently has an average rating of "Hold" and an average price target of $53.00.

Super Micro Computer Price Performance

NASDAQ SMCI traded up $0.34 on Tuesday, reaching $33.46. 20,963,254 shares of the company's stock traded hands, compared to its average volume of 73,317,972. The stock has a market cap of $19.86 billion, a PE ratio of 16.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. Super Micro Computer, Inc. has a 12 month low of $17.25 and a 12 month high of $102.03. The stock has a 50-day simple moving average of $40.19 and a 200 day simple moving average of $36.76.

Insider Activity at Super Micro Computer

In other news, SVP George Kao sold 71,720 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the transaction, the senior vice president now directly owns 19,449 shares of the company's stock, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares in the company, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,473 shares of company stock valued at $6,771,552. Insiders own 17.60% of the company's stock.

Super Micro Computer Company 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.