Chase Investment Counsel Corp Raises Stake in Super Micro Computer, Inc. (NASDAQ:SMCI)

Chase Investment Counsel Corp grew its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 231.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,690 shares of the company’s stock after acquiring an additional 1,879 shares during the quarter. Chase Investment Counsel Corp’s holdings in Super Micro Computer were worth $1,120,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. RPG Investment Advisory LLC raised its position in Super Micro Computer by 58.1% in the 3rd quarter. RPG Investment Advisory LLC now owns 22,466 shares of the company’s stock worth $9,355,000 after purchasing an additional 8,260 shares during the period. Victory Capital Management Inc. increased its stake in Super Micro Computer by 128.2% in the 3rd quarter. Victory Capital Management Inc. now owns 42,642 shares of the company’s stock worth $17,756,000 after purchasing an additional 23,959 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Super Micro Computer by 12.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 124,652 shares of the company’s stock valued at $51,905,000 after purchasing an additional 13,936 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Super Micro Computer by 391.8% in the third quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after purchasing an additional 61,071 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its position in Super Micro Computer by 128.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,026 shares of the company’s stock valued at $828,000 after buying an additional 1,138 shares during the period. 84.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $32.00 price target (down from $62.00) on shares of Super Micro Computer in a research note on Monday, November 4th. Loop Capital lowered their target price on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Argus downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $109.00 to $70.00 in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their target price on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Performance

NASDAQ SMCI opened at $21.70 on Wednesday. The business has a 50-day moving average price of $41.08 and a 200-day moving average price of $63.89. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 10.89 and a beta of 1.28. Super Micro Computer, Inc. has a twelve month low of $20.20 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.

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.