PNC Financial Services Group Inc. Boosts Stock Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• PNC Financial Services Group Inc. increased its holdings in Super Micro Computer, Inc. by 20.2% in Q1, owning 48,396 shares valued at $1.657 million as of its latest SEC filing.
• Super Micro Computer reported a quarterly EPS of $0.41, missing analyst estimates, with revenues of $5.76 billion, an 8.5% increase year-over-year.
• Insider transactions included significant sales by directors and the CEO, totaling $24 million from 400,000 shares sold, marking a 0.49% decrease in their ownership after the sales.

PNC Financial Services Group Inc. grew its stake in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 20.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,396 shares of the company's stock after buying an additional 8,148 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Super Micro Computer were worth $1,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SMCI. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Super Micro Computer during the 1st quarter worth about $5,408,000. Gibraltar Capital Management Inc. acquired a new stake in shares of Super Micro Computer during the 1st quarter worth about $205,000. Sequoia Financial Advisors LLC lifted its stake in shares of 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. Capital Advisors Inc. OK lifted its stake in shares of Super Micro Computer by 39.8% during the 1st quarter. Capital Advisors Inc. OK now owns 47,251 shares of the company's stock worth $1,618,000 after buying an additional 13,451 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Super Micro Computer by 796.5% in the 4th quarter. Nuveen Asset Management LLC now owns 1,446,722 shares of the company's stock valued at $44,096,000 after buying an additional 1,285,355 shares in the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Super Micro Computer Trading Up 1.3%

SMCI stock traded up $0.60 during trading on Monday, hitting $45.20. The company had a trading volume of 31,757,133 shares, compared to its average volume of 57,002,855. The stock has a market cap of $26.98 billion, a PE ratio of 27.23, a PEG ratio of 1.14 and a beta of 1.46. The business has a 50-day moving average of $48.61 and a 200-day moving average of $41.63. The company has a current ratio of 5.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.74. Super Micro Computer, Inc. has a one year low of $17.25 and a one year high of $66.44.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.03). The firm had revenue of $5.76 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.25 EPS. Research analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Super Micro Computer news, CEO Charles Liang sold 200,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $60.00, for a total value of $12,000,000.00. Following the transaction, the chief executive officer owned 40,426,120 shares in the company, valued at approximately $2,425,567,200. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief financial officer owned 88,599 shares of the company's stock, valued at $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. Insiders sold 1,067,000 shares of company stock valued at $53,949,340 over the last 90 days. Company insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SMCI shares. Needham & Company LLC lifted their target price on Super Micro Computer from $39.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Mizuho boosted their price objective on shares of Super Micro Computer from $40.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. The Goldman Sachs Group raised their target price on shares of Super Micro Computer from $24.00 to $27.00 and gave the stock a "sell" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Finally, Bank of America started coverage on Super Micro Computer in a report on Wednesday, July 9th. They set an "underperform" rating and a $35.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $44.75.

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.