Super Micro Computer, Inc. (NASDAQ:SMCI) Shares Bought by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. grew its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 172,907.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,491 shares of the company's stock after purchasing an additional 22,478 shares during the period. Riggs Asset Managment Co. Inc.'s holdings in Super Micro Computer were worth $770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SMCI. Robeco Institutional Asset Management B.V. purchased a new position in shares of Super Micro Computer during the first quarter valued at approximately $5,408,000. Fisher Asset Management LLC acquired a new position in Super Micro Computer in the 4th quarter valued at $209,000. 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 purchasing an additional 5,804 shares during the period. US Bancorp DE lifted its stake in shares of 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 purchasing an additional 26,549 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Super Micro Computer by 561.3% during the fourth quarter. LPL Financial LLC now owns 675,605 shares of the company's stock worth $20,592,000 after purchasing an additional 573,439 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SMCI shares. Barclays reiterated an "equal weight" rating and issued a $34.00 target price on shares of Super Micro Computer in a research note on Tuesday, May 6th. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a research note on Wednesday, May 7th. Mizuho increased their price objective on shares of Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued 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 $46.06.

Super Micro Computer Stock Down 0.5%

NASDAQ:SMCI traded down $0.24 during mid-day trading on Friday, hitting $48.51. The company had a trading volume of 18,665,575 shares, compared to its average volume of 69,330,447. The business has a fifty day simple moving average of $41.42 and a 200-day simple moving average of $38.03. The firm has a market capitalization of $28.95 billion, a price-to-earnings ratio of 25.52 and a beta of 1.43. Super Micro Computer, Inc. has a 1 year low of $17.25 and a 1 year high of $96.33. 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 (NASDAQ:SMCI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company's revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Equities analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Super Micro Computer

In other news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of Super Micro Computer stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the sale, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David E. Weigand sold 67,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the completion of the transaction, the chief financial officer directly owned 88,599 shares of the company's stock, valued at $3,900,127.98. This represents a 43.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 667,000 shares of company stock valued at $29,949,340. 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.