DAVENPORT & Co LLC Has $1.10 Million Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

DAVENPORT & Co LLC raised its position in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 47.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,998 shares of the company's stock after buying an additional 10,368 shares during the period. DAVENPORT & Co LLC's holdings in Super Micro Computer were worth $1,096,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SMCI. Vanguard Group Inc. raised its stake in Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company's stock worth $1,889,531,000 after acquiring an additional 55,845,073 shares during the period. Geode Capital Management LLC boosted its holdings in Super Micro Computer by 914.7% during the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock worth $390,572,000 after buying an additional 11,580,677 shares in the last quarter. FMR LLC bought a new stake in Super Micro Computer during the fourth quarter worth approximately $292,869,000. Invesco Ltd. boosted its holdings in Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock worth $229,903,000 after buying an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock valued at $149,287,000 after acquiring an additional 4,605,260 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 Super Micro Computer stock traded up $0.91 during trading on Wednesday, hitting $50.02. 34,948,391 shares of the company's stock traded hands, compared to its average volume of 68,787,134. The company has a market cap of $29.85 billion, a PE ratio of 26.31 and a beta of 1.43. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $96.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. The firm's fifty day moving average price is $42.25 and its 200 day moving average price is $38.34.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating 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 firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

SMCI has been the subject of several research analyst reports. Wedbush restated a "buy" rating on shares of Super Micro Computer in a research report on Wednesday, June 25th. Northland Securities set a $59.00 price target on shares of Super Micro Computer in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut 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 report on Wednesday, May 7th. Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Finally, Rosenblatt Securities decreased their price target on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $43.88.

Insiders Place Their Bets

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 completion of the sale, the chief executive officer directly owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business's stock in a transaction that occurred on 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. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 667,000 shares of company stock valued at $29,949,340. Insiders own 17.60% of the company's stock.

Super Micro Computer 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.