Western Financial Corp CA Purchases New Shares in Super Micro Computer, Inc. (NASDAQ:SMCI)

Western Financial Corp CA purchased a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 27,037 shares of the company’s stock, valued at approximately $926,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMCI. Vanguard Group Inc. raised its position in Super Micro Computer by 908.4% during the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after buying an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC raised its position in Super Micro Computer by 914.7% during the 4th 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 during the last quarter. FMR LLC purchased a new position in Super Micro Computer during the 4th quarter worth $292,869,000. Invesco Ltd. raised its position in Super Micro Computer by 929.5% during the 4th 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 during the last quarter. Finally, Northern Trust Corp raised its position in Super Micro Computer by 1,573.8% during the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after buying an additional 4,605,260 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Up 8.8%

Shares of NASDAQ:SMCI opened at $46.61 on Thursday. 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, Inc. has a 52-week low of $17.25 and a 52-week high of $96.33. The company has a 50 day moving average of $39.21 and a two-hundred day moving average of $37.47. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 24.52 and a beta of 1.40.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 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 SEC, which can be accessed through the SEC website. Also, CFO David E. Weigand sold 67,000 shares of the business’s stock in a transaction dated 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 owns 88,599 shares in the company, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 667,000 shares of company stock valued at $29,949,340 over the last 90 days. 17.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SMCI. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $40.00 to $32.00 in a research report on Monday, March 24th. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Mizuho set a $40.00 price objective on shares of Super Micro Computer and gave the stock a “neutral” rating in a research report on Monday, May 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Finally, KeyCorp raised shares of Super Micro Computer to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have given 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, Super Micro Computer presently has a consensus rating of “Hold” and an average target price of $45.63.

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.