Bell Bank Invests $259,000 in Super Micro Computer, Inc. (NASDAQ:SMCI)

Bell Bank bought a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 621 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd acquired a new position in shares of Super Micro Computer during the 3rd quarter worth approximately $318,000. Chase Investment Counsel Corp boosted its position in Super Micro Computer by 231.7% in the 3rd quarter. Chase Investment Counsel Corp now owns 2,690 shares of the company’s stock valued at $1,120,000 after buying an additional 1,879 shares during the period. RPG Investment Advisory LLC increased its stake in shares of Super Micro Computer by 58.1% during the third quarter. RPG Investment Advisory LLC now owns 22,466 shares of the company’s stock worth $9,355,000 after buying an additional 8,260 shares during the period. Victory Capital Management Inc. increased its holdings in Super Micro Computer by 128.2% in the third quarter. Victory Capital Management Inc. now owns 42,642 shares of the company’s stock valued at $17,756,000 after buying an additional 23,959 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Super Micro Computer by 12.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 124,652 shares of the company’s stock worth $51,905,000 after purchasing an additional 13,936 shares in the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Argus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC started coverage on Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 price objective on the stock. Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $109.00 to $70.00 in a report on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Super Micro Computer in a research report on Wednesday, August 7th. Finally, Cfra reissued a “hold” rating and set a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Trading Down 6.3 %

Shares of SMCI stock opened at $20.33 on Thursday. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. Super Micro Computer, Inc. has a 12-month low of $20.20 and a 12-month high of $122.90. The company has a market capitalization of $11.37 billion, a P/E ratio of 10.21 and a beta of 1.28. The firm has a 50-day moving average price of $41.08 and a 200 day moving average price of $63.89.

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.