Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Super Micro Computer, Inc. by 11.6% during the first quarter, owning a total of 950,513 shares valued at approximately $32.5 million.
• Following recent earnings, Super Micro Computer reported $0.41 EPS, missing analysts' expectations of $0.44, and had a revenue of $5.76 billion against a forecast of $5.88 billion.
• Equities analysts have varied opinions on Super Micro Computer, with recent price targets ranging from $35.00 to $60.00, while the stock currently has an average rating of "Hold."

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 11.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 950,513 shares of the company's stock after purchasing an additional 99,087 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Super Micro Computer worth $32,546,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Super Micro Computer in the first quarter worth $5,408,000. Gibraltar Capital Management Inc. acquired a new position in Super Micro Computer during the 1st quarter worth $205,000. Sequoia Financial Advisors LLC boosted its holdings in Super Micro Computer by 43.2% during the first quarter. Sequoia Financial Advisors LLC now owns 19,243 shares of the company's stock valued at $659,000 after acquiring an additional 5,804 shares during the period. Capital Advisors Inc. OK grew its position in shares of Super Micro Computer by 39.8% in the first quarter. Capital Advisors Inc. OK now owns 47,251 shares of the company's stock valued at $1,618,000 after purchasing an additional 13,451 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Super Micro Computer by 796.5% in the fourth quarter. Nuveen Asset Management LLC now owns 1,446,722 shares of the company's stock worth $44,096,000 after purchasing an additional 1,285,355 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Super Micro Computer

In related news, CFO David E. Weigand sold 67,000 shares of the business's 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 transaction, the chief financial officer directly owned 88,599 shares in the company, valued at approximately $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Liang sold 200,000 shares of the company's stock in a transaction that occurred 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 chief executive officer directly owned 40,426,120 shares of the company's stock, valued at approximately $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 sold a total of 1,067,000 shares of company stock valued at $53,949,340 over the last ninety days. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Super Micro Computer from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Bank of America initiated coverage on shares of Super Micro Computer in a research note on Wednesday, July 9th. They set an "underperform" rating and a $35.00 target price for the company. Citigroup restated a "neutral" rating and issued a $52.00 price target (up from $37.00) on shares of Super Micro Computer in a research report on Friday, July 11th. Needham & Company LLC increased their target price on shares of Super Micro Computer from $39.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Rosenblatt Securities lowered their price target on 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $44.75.

Super Micro Computer Trading Up 1.3%

SMCI traded up $0.60 during trading on Monday, hitting $45.20. The company's stock had a trading volume of 31,757,133 shares, compared to its average volume of 57,002,855. The firm has a market capitalization of $26.98 billion, a P/E ratio of 27.23, a PEG ratio of 1.14 and a beta of 1.46. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $66.44. The stock's fifty day moving average price is $48.61 and its 200-day moving average price is $41.63. The company has a quick ratio of 3.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.74.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.88 billion. Super Micro Computer had a return on equity of 17.14% and a net margin of 4.77%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.25 earnings per share. Analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

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.