Providence Wealth Advisors LLC Purchases 6,129 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Providence Wealth Advisors LLC boosted its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 900.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,810 shares of the company’s stock after buying an additional 6,129 shares during the quarter. Super Micro Computer accounts for 2.1% of Providence Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position. Providence Wealth Advisors LLC’s holdings in Super Micro Computer were worth $2,836,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. boosted its holdings in Super Micro Computer by 400.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after acquiring an additional 24 shares during the period. Moser Wealth Advisors LLC purchased a new stake in Super Micro Computer in the 2nd quarter worth approximately $25,000. Hazlett Burt & Watson Inc. lifted 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 period. AlphaCentric Advisors LLC purchased a new stake in Super Micro Computer in the 2nd quarter worth approximately $42,000. Finally, First PREMIER Bank lifted its holdings in Super Micro Computer by 126.1% in the 2nd quarter. First PREMIER Bank now owns 52 shares of the company’s stock worth $43,000 after buying an additional 29 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Stock Up 1.9 %

SMCI stock opened at $35.07 on Friday. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $122.90. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a market cap of $19.62 billion, a PE ratio of 17.61 and a beta of 1.28. The business has a 50 day moving average of $37.70 and a 200 day moving average of $59.71.

Wall Street Analyst Weigh In

Several research firms have weighed in on SMCI. Wedbush reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Mizuho began coverage on Super Micro Computer in a report on Tuesday, September 17th. They issued a “neutral” rating and a $45.00 price objective for the company. Loop Capital dropped their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company decreased their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Finally, Bank of America lowered Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.89.

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.