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

Meridian Wealth Management LLC bought a new position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 648 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Farmers & Merchants Investments Inc. raised its position in Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after acquiring an additional 24 shares during the period. Moser Wealth Advisors LLC purchased a new position in Super Micro Computer in the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. boosted its holdings in Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after buying an additional 24 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in Super Micro Computer during the 2nd quarter worth approximately $42,000. Finally, First PREMIER Bank raised its holdings in shares of Super Micro Computer by 126.1% during the second quarter. First PREMIER Bank now owns 52 shares of the company’s stock valued at $43,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Performance

Shares of Super Micro Computer stock opened at $38.41 on Tuesday. The firm has a market cap of $21.48 billion, a PE ratio of 19.28 and a beta of 1.28. 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 52 week low of $17.25 and a 52 week high of $122.90. The business’s fifty day simple moving average is $38.08 and its 200-day simple moving average is $60.35.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SMCI shares. Wells Fargo & Company lowered their price target on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. Mizuho started coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $50.00 to $23.00 in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.89.

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.