Royal Bank of Canada Grows Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Royal Bank of Canada lifted its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 597,348.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 746,810 shares of the company's stock after purchasing an additional 746,685 shares during the period. Royal Bank of Canada owned 0.13% of Super Micro Computer worth $22,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC bought a new position in shares of Super Micro Computer during the 4th quarter worth approximately $635,000. Nepsis Inc. bought a new position in Super Micro Computer during the fourth quarter worth $13,625,000. Fifth Third Bancorp increased its holdings in shares of Super Micro Computer by 1,476.6% in the fourth quarter. Fifth Third Bancorp now owns 12,266 shares of the company's stock valued at $374,000 after purchasing an additional 11,488 shares during the last quarter. Griffin Asset Management Inc. bought a new position in shares of Super Micro Computer in the fourth quarter valued at about $931,000. Finally, Wealth Quarterback LLC acquired a new stake in shares of Super Micro Computer during the 4th quarter worth about $435,000. 84.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SMCI. JPMorgan Chase & Co. decreased their price target on shares of Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Tuesday, February 11th. KGI Securities initiated coverage on shares of Super Micro Computer in a research note on Wednesday, May 7th. They issued a "neutral" rating for the company. Needham & Company LLC reissued a "buy" rating and issued a $39.00 price objective on shares of Super Micro Computer in a report on Wednesday, May 7th. Finally, Rosenblatt Securities lowered their target price on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.63.

Super Micro Computer Trading Up 0.4%

NASDAQ SMCI traded up $0.16 on Wednesday, reaching $41.73. The company had a trading volume of 11,157,157 shares, compared to its average volume of 71,778,751. The firm has a market cap of $24.91 billion, a price-to-earnings ratio of 20.91 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. Super Micro Computer, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $101.40. The business has a 50 day moving average of $35.87 and a two-hundred day moving average of $35.83.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. Analysts forecast that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Super Micro Computer

In related news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the sale, the chief financial officer now directly owns 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert L. Blair sold 19,460 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. 17.60% of the stock is owned by insiders.

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.