Summit Global Investments Buys Shares of 287 Super Micro Computer, Inc. (NASDAQ:SMCI)

Summit Global Investments bought a new stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 287 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SMCI. Bank of New Hampshire purchased a new position in shares of Super Micro Computer in the 1st quarter valued at $35,000. VitalStone Financial LLC increased its holdings in shares of Super Micro Computer by 250.0% in the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Larson Financial Group LLC grew its stake in Super Micro Computer by 186.7% during the 1st quarter. Larson Financial Group LLC now owns 43 shares of the company’s stock valued at $43,000 after purchasing an additional 28 shares during the last quarter. Versant Capital Management Inc boosted its position in Super Micro Computer by 42.9% in the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after purchasing an additional 15 shares in the last quarter. Finally, Silicon Valley Capital Partners acquired a new stake in Super Micro Computer during the first quarter valued at $51,000. 84.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SMCI shares. JPMorgan Chase & Co. reduced their target price on Super Micro Computer from $1,150.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $1,090.00 to $700.00 in a research note on Wednesday, August 7th. Wedbush reaffirmed a “neutral” rating and set a $800.00 target price on shares of Super Micro Computer in a research note on Friday, August 2nd. KeyCorp started coverage on Super Micro Computer in a research note on Wednesday, April 24th. They set a “sector weight” rating for the company. Finally, Susquehanna upped their target price on Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Super Micro Computer has an average rating of “Hold” and an average target price of $911.85.

Super Micro Computer Trading Up 2.0 %

NASDAQ:SMCI traded up $12.41 during trading hours on Wednesday, hitting $623.32. The company had a trading volume of 5,120,786 shares, compared to its average volume of 8,244,005. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $761.79 and a 200 day moving average of $843.46. The company has a market cap of $34.86 billion, a P/E ratio of 35.15, a P/E/G ratio of 0.71 and a beta of 1.27. Super Micro Computer, Inc. has a 1 year low of $226.59 and a 1 year high of $1,229.00.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.63 by ($1.38). The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm’s quarterly revenue was up 142.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.43 earnings per share. Sell-side analysts expect that Super Micro Computer, Inc. will post 28.5 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total value of $240,600.00. Following the completion of the sale, the director now directly owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Tally C. Liu sold 500 shares of Super Micro Computer stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $839.17, for a total value of $419,585.00. Following the completion of the sale, the director now owns 27,813 shares of the company’s stock, valued at $23,339,835.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total value of $240,600.00. Following the completion of the sale, the director now directly owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by company insiders.

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.