Super Micro Computer, Inc. (NASDAQ:SMCI) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 47.9% during the first quarter, HoldingsChannel reports. The fund owned 31,998 shares of the company’s stock after acquiring an additional 10,368 shares during the quarter. DAVENPORT & Co LLC’s holdings in Super Micro Computer were worth $1,096,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SMCI. Robeco Institutional Asset Management B.V. bought a new position in shares of Super Micro Computer during the first quarter worth about $5,408,000. Fisher Asset Management LLC acquired a new stake in Super Micro Computer during the fourth quarter valued at approximately $209,000. Sequoia Financial Advisors LLC lifted its holdings in Super Micro Computer by 43.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,243 shares of the company’s stock worth $659,000 after buying an additional 5,804 shares during the last quarter. US Bancorp DE lifted its holdings in Super Micro Computer by 1,147.3% during the 4th quarter. US Bancorp DE now owns 28,863 shares of the company’s stock worth $880,000 after buying an additional 26,549 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Super Micro Computer by 561.3% in the 4th quarter. LPL Financial LLC now owns 675,605 shares of the company’s stock worth $20,592,000 after acquiring an additional 573,439 shares in the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several research reports. Citigroup began coverage on Super Micro Computer in a research report on Tuesday, May 6th. They set a “neutral” rating and a $39.00 price target on the stock. Wall Street Zen upgraded shares of Super Micro Computer to a “sell” rating in a research note on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Monday, March 24th. Wedbush reaffirmed a “buy” rating on shares of Super Micro Computer in a report on Wednesday, June 25th. Finally, Raymond James Financial assumed coverage on shares of Super Micro Computer in a research note on Wednesday, June 25th. They set an “outperform” rating on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.06.

Insider Transactions at Super Micro Computer

In other news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the transaction, the director directly owned 66,903,640 shares of the company’s stock, valued at approximately $3,010,663,800. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David E. Weigand sold 67,000 shares of Super Micro Computer stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the sale, the chief financial officer owned 88,599 shares in the company, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 667,000 shares of company stock valued at $29,949,340. 17.60% of the stock is currently owned by corporate insiders.

Super Micro Computer Price Performance

NASDAQ SMCI opened at $48.51 on Friday. The company has a 50-day moving average price of $41.42 and a two-hundred day moving average price of $38.03. Super Micro Computer, Inc. has a 52 week low of $17.25 and a 52 week high of $96.33. The stock has a market cap of $28.95 billion, a price-to-earnings ratio of 25.52 and a beta of 1.43. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts forecast that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

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.