Mirae Asset Global Investments Co. Ltd. Buys 32,666 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Super Micro Computer, Inc. (NASDAQ:SMCI) by 69.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,377 shares of the company’s stock after purchasing an additional 32,666 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Super Micro Computer were worth $2,718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SMCI. Jaffetilchin Investment Partners LLC acquired a new stake in Super Micro Computer in the first quarter worth $688,000. Western Financial Corp CA bought a new stake in shares of Super Micro Computer in the 1st quarter valued at $926,000. Creative Financial Designs Inc. ADV raised its stake in Super Micro Computer by 180.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 10,230 shares of the company’s stock worth $350,000 after buying an additional 6,580 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Super Micro Computer during the 1st quarter worth $5,408,000. Finally, Sequoia Financial Advisors LLC grew its stake in Super Micro Computer by 43.2% in the first quarter. Sequoia Financial Advisors LLC now owns 19,243 shares of the company’s stock valued at $659,000 after acquiring an additional 5,804 shares during the period. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Up 3.3%

SMCI stock opened at $48.74 on Thursday. The company has a market cap of $29.09 billion, a price-to-earnings ratio of 25.64 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 business has a 50 day moving average price of $40.93 and a two-hundred day moving average price of $37.78. The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion during 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 firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. Analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wedbush reiterated a “buy” rating on shares of Super Micro Computer in a report on Wednesday, June 25th. Citigroup started coverage on shares of Super Micro Computer in a research note on Tuesday, May 6th. They issued a “neutral” rating and a $39.00 price target on the stock. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $40.00 to $32.00 in a research report on Monday, March 24th. Barclays restated an “equal weight” rating and set a $34.00 price objective on shares of Super Micro Computer in a report on Tuesday, May 6th. Finally, Northland Securities set a $59.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.63.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the company’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 value of $13,500,000.00. Following the sale, the director owned 66,903,640 shares in the company, valued at $3,010,663,800. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David E. Weigand sold 67,000 shares of the firm’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 value of $2,949,340.00. Following the completion of the sale, the chief financial officer directly owned 88,599 shares of the company’s stock, valued at approximately $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 667,000 shares of company stock worth $29,949,340 in the last ninety days. 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.