LPL Financial LLC Acquires 197,967 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• LPL Financial LLC increased its stake in Super Micro Computer by 29.3%, acquiring nearly 198,000 additional shares, bringing its total holdings to about $29.9 million.
• Super Micro Computer reported $4.60 billion in revenue for the quarter, which did not meet analyst expectations, but posted earnings per share of $0.31, exceeding estimates.
• Recent insider trades included CFO David E. Weigand selling 67,000 shares, and CEO Charles Liang selling 200,000 shares, indicating potential shifts in management confidence.

LPL Financial LLC boosted its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 29.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 873,572 shares of the company's stock after purchasing an additional 197,967 shares during the period. LPL Financial LLC owned approximately 0.15% of Super Micro Computer worth $29,911,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SMCI. Central Pacific Bank Trust Division purchased a new position in Super Micro Computer in the 1st quarter worth approximately $34,000. IMG Wealth Management Inc. increased its stake in shares of Super Micro Computer by 90.7% in the first quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock worth $36,000 after buying an additional 500 shares during the period. Bernard Wealth Management Corp. bought a new stake in Super Micro Computer during the 4th quarter valued at $33,000. Quarry LP purchased a new stake in Super Micro Computer during the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc increased its position in shares of Super Micro Computer by 664.9% in the first quarter. Versant Capital Management Inc now owns 1,178 shares of the company's stock valued at $40,000 after acquiring an additional 1,024 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Price Performance

SMCI traded up $1.59 on Monday, hitting $58.23. 32,587,273 shares of the company's stock traded hands, compared to its average volume of 57,004,773. The company's 50 day simple moving average is $47.62 and its 200-day simple moving average is $40.98. 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, Inc. has a one year low of $17.25 and a one year high of $66.44. The firm has a market cap of $34.75 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 2.76 and a beta of 1.46.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, research analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Analyst Ratings Changes

SMCI has been the subject of a number of analyst reports. Bank of America began coverage on shares of Super Micro Computer in a report on Wednesday, July 9th. They set an "underperform" rating and a $35.00 target price for the company. Wedbush reiterated a "neutral" rating and set a $30.00 target price on shares of Super Micro Computer in a report on Monday. Rosenblatt Securities dropped their price objective on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen raised Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Finally, KGI Securities began coverage on Super Micro Computer in a report on Wednesday, May 7th. They set a "neutral" rating on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.89.

Insiders Place Their Bets

In related news, Director Liang Chiu-Chu Sara Liu sold 200,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $60.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director directly owned 40,426,120 shares of the company's stock, valued at approximately $2,425,567,200. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Liang sold 200,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $60.00, for a total transaction of $12,000,000.00. Following the sale, the chief executive officer owned 40,426,120 shares in the company, valued at $2,425,567,200. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,067,000 shares of company stock valued at $53,949,340 in the last quarter. 17.60% of the stock is currently owned by insiders.

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.