US Bancorp DE Grows Stock Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Key Points

• US Bancorp DE has increased its holdings in Super Micro Computer, Inc. by 36.2%, owning 39,307 shares valued at approximately $1.35 million.
• Super Micro Computer reported earnings of $0.41 per share for the latest quarter, missing expectations and seeing a revenue of $5.76 billion, which was also below the consensus estimate.
• Wall Street analysts have provided mixed ratings on Super Micro Computer, with three sell ratings, eight holds, six buys, and one strong buy, along with a consensus target price of $44.75.

US Bancorp DE boosted its holdings in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) by 36.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,307 shares of the company's stock after buying an additional 10,444 shares during the period. US Bancorp DE's holdings in Super Micro Computer were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Eastern Bank purchased a new position in Super Micro Computer in the 1st quarter valued at approximately $29,000. Central Pacific Bank Trust Division purchased a new position in Super Micro Computer in the 1st quarter valued at approximately $34,000. IMG Wealth Management Inc. grew its stake in Super Micro Computer by 90.7% in the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock valued at $36,000 after buying an additional 500 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Super Micro Computer during the 4th quarter valued at $33,000. Finally, Quarry LP bought a new position in shares of Super Micro Computer in the fourth quarter worth $34,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SMCI shares. Raymond James Financial started coverage on shares of Super Micro Computer in a report on Wednesday, June 25th. They issued an "outperform" rating on the stock. Barclays upped their price target on shares of Super Micro Computer from $29.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Super Micro Computer from $24.00 to $27.00 and gave the stock a "sell" rating in a report on Wednesday. KGI Securities started coverage on shares of Super Micro Computer in a report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Finally, Citigroup reaffirmed a "neutral" rating and issued a $52.00 price target (up previously from $37.00) on shares of Super Micro Computer in a report on Friday, July 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Super Micro Computer presently has an average rating of "Hold" and a consensus target price of $44.75.

Super Micro Computer Stock Performance

Super Micro Computer stock opened at $44.60 on Friday. The company has a quick ratio of 3.95, a current ratio of 5.32 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $26.62 billion, a PE ratio of 26.87, a P/E/G ratio of 1.19 and a beta of 1.46. The firm has a fifty day simple moving average of $48.61 and a two-hundred day simple moving average of $41.52. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $66.44.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.88 billion. Super Micro Computer had a return on equity of 17.14% and a net margin of 4.77%. The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.25 earnings per share. Research analysts expect that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other news, CFO David E. Weigand sold 67,000 shares of the company's 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 completion of the transaction, the chief financial officer directly owned 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Liang Chiu-Chu Sara Liu sold 200,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $60.00, for a total transaction of $12,000,000.00. Following the transaction, the director directly owned 40,426,120 shares of the company's stock, valued at approximately $2,425,567,200. This trade represents a 0.49% 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 three months. Insiders own 17.60% of the company's stock.

About Super Micro Computer

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.

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