Riggs Asset Managment Co. Inc. Has $770,000 Stock Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Riggs Asset Managment Co. Inc. increased its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 172,907.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,491 shares of the company's stock after acquiring an additional 22,478 shares during the quarter. Riggs Asset Managment Co. Inc.'s holdings in Super Micro Computer were worth $770,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. purchased a new stake in Super Micro Computer during the 1st quarter worth $5,408,000. Fisher Asset Management LLC acquired a new position in Super Micro Computer during the 4th quarter worth $209,000. Sequoia Financial Advisors LLC grew 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 acquiring an additional 5,804 shares in the last quarter. US Bancorp DE grew 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 acquiring an additional 26,549 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in Super Micro Computer by 561.3% during 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. Institutional investors and hedge funds own 84.06% of the company's stock.

Super Micro Computer Price Performance

Shares of NASDAQ SMCI traded up $0.91 during midday trading on Wednesday, reaching $50.02. The company's stock had a trading volume of 34,553,074 shares, compared to its average volume of 68,772,198. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $41.88 and a 200 day moving average price of $38.26. Super Micro Computer, Inc. has a one year low of $17.25 and a one year high of $96.33. The company has a market cap of $29.85 billion, a price-to-earnings ratio of 26.31 and a beta of 1.43.

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 analysts' consensus estimates of $0.30 by $0.01. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts expect that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SMCI shares. Rosenblatt Securities decreased their price target on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a "neutral" rating to a "sell" rating and cut their price objective for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Citigroup started coverage on shares of Super Micro Computer in a research report on Tuesday, May 6th. They issued a "neutral" rating and a $39.00 price objective on the stock. Finally, Raymond James Financial started coverage on shares of Super Micro Computer in a research report on Wednesday, June 25th. They issued an "outperform" rating on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Super Micro Computer has an average rating of "Hold" and a consensus target price of $43.88.

Insider Transactions at Super Micro Computer

In related news, CEO Charles Liang sold 300,000 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the transaction, the chief executive officer directly owned 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction that occurred on 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 $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 667,000 shares of company stock valued at $29,949,340 over the last ninety days. Corporate insiders own 17.60% of the company's stock.

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.