Prosperity Wealth Management Inc. Buys New Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Prosperity Wealth Management Inc. acquired a new stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,450 shares of the company's stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SMCI. Salem Investment Counselors Inc. purchased a new stake in Super Micro Computer in the fourth quarter worth about $30,000. Trust Co. of Vermont increased its position in shares of Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after acquiring an additional 954 shares in the last quarter. Larson Financial Group LLC grew its position in Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after purchasing an additional 893 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in Super Micro Computer in the 4th quarter worth approximately $31,000. 84.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Super Micro Computer

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

Wall Street Analyst Weigh In

SMCI has been the topic of several analyst reports. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Rosenblatt Securities assumed coverage on shares of Super Micro Computer in a research note on Monday. They issued a "buy" rating and a $60.00 price target on the stock. StockNews.com upgraded shares of Super Micro Computer to a "sell" rating in a report on Friday, February 28th. Cfra upgraded shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $52.57.

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Super Micro Computer Stock Up 10.7 %

SMCI stock opened at $40.84 on Wednesday. The company's 50 day simple moving average is $37.41 and its 200-day simple moving average is $38.32. The firm has a market capitalization of $24.24 billion, a PE ratio of 20.50 and a beta of 1.21. Super Micro Computer, Inc. has a 12 month low of $17.25 and a 12 month high of $119.80. 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 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.

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