Wahed Invest LLC Takes $5 Million Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Wahed Invest LLC acquired a new position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,010 shares of the company’s stock, valued at approximately $5,001,000. Super Micro Computer comprises about 0.9% of Wahed Invest LLC’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake 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 acquiring an additional 61,071 shares during the last quarter. Assetmark Inc. boosted its holdings in Super Micro Computer by 164.8% in the 3rd quarter. Assetmark Inc. now owns 150,333 shares of the company’s stock valued at $62,599,000 after purchasing an additional 93,569 shares during the period. Bridgewater Associates LP grew its position in Super Micro Computer by 921.1% in the 3rd quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after purchasing an additional 145,327 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Super Micro Computer by 128.2% during 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. Finally, Quadrature Capital Ltd acquired a new position in shares of Super Micro Computer during the third quarter valued at about $28,329,000. Institutional investors own 84.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Mizuho assumed coverage on Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 target price on the stock. Loop Capital lowered their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Cfra reiterated 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. The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Needham & Company LLC began coverage on shares of Super Micro Computer in a research report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Super Micro Computer presently has an average rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Price Performance

Shares of SMCI stock opened at $41.14 on Friday. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of 20.67 and a beta of 1.29. Super Micro Computer, Inc. has a 12 month low of $17.25 and a 12 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 stock has a 50-day moving average price of $37.01 and a 200 day moving average price of $58.00.

Super Micro Computer Company 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.