Griffin Asset Management Inc. Makes New $663,000 Investment in Super Micro Computer, Inc. (NASDAQ:SMCI)

Griffin Asset Management Inc. acquired a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 656 shares of the company’s stock, valued at approximately $663,000.

Several other hedge funds have also recently bought and sold shares of the company. Optimum Investment Advisors purchased a new stake in Super Micro Computer during the fourth quarter worth about $28,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Super Micro Computer in the fourth quarter worth $30,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Super Micro Computer during the fourth quarter worth $33,000. Bank of New Hampshire purchased a new stake in shares of Super Micro Computer during the first quarter worth $35,000. Finally, Allworth Financial LP raised its stake in shares of Super Micro Computer by 28.6% in the fourth quarter. Allworth Financial LP now owns 126 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Insider Buying and Selling

In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the sale, the director now directly owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Super Micro Computer news, Director Tally C. Liu sold 500 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $839.17, for a total value of $419,585.00. Following the sale, the director now owns 27,813 shares of the company’s stock, valued at $23,339,835.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $802.00, for a total transaction of $240,600.00. Following the transaction, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The disclosure for this sale can be found here. Insiders have sold a total of 1,325 shares of company stock valued at $1,116,736 over the last quarter. 17.60% of the stock is currently owned by insiders.

Super Micro Computer Stock Performance

Shares of SMCI stock opened at $819.35 on Friday. Super Micro Computer, Inc. has a 1 year low of $226.59 and a 1 year high of $1,229.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.29 and a current ratio of 4.69. The firm has a market cap of $45.83 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 0.74 and a beta of 1.23. The stock’s 50-day moving average is $832.95 and its two-hundred day moving average is $745.76.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $6.56 EPS for the quarter, beating the consensus estimate of $5.42 by $1.14. Super Micro Computer had a net margin of 8.88% and a return on equity of 34.09%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.96 billion. Analysts predict that Super Micro Computer, Inc. will post 21.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SMCI shares. Wells Fargo & Company lowered their target price on Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. KeyCorp assumed coverage on shares of Super Micro Computer in a research note on Wednesday, April 24th. They set a “sector weight” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,300.00 target price on shares of Super Micro Computer in a report on Wednesday, May 1st. JPMorgan Chase & Co. began coverage on shares of Super Micro Computer in a report on Monday, March 25th. They set an “overweight” rating and a $1,150.00 price target for the company. Finally, Northland Securities raised their price objective on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and an average price target of $954.38.

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.