July 28, 2023: LSV Asset Management, a prominent investment firm, has increased its stake in Super Micro Computer, Inc. (NASDAQ:SMCI) by 11.9% during the first quarter of this year. According to recent filings with the Securities and Exchange Commission (SEC), the fund now owns 196,200 shares of Super Micro Computer’s stock after acquiring an additional 20,799 shares. This represents approximately 0.37% ownership of the company’s total shares and is valued at $20,905,000 based on the latest SEC filing.
Super Micro Computer (NASDAQ:SMCI) recently released its quarterly earnings results on May 2nd. However, these results fell short of analysts’ expectations as the company reported earnings per share (EPS) of $1.42 for the quarter, missing consensus estimates by $0.05. Despite this setback, the corporation recorded revenue of $1.28 billion for the quarter, although analysts had anticipated a higher figure of $1.38 billion.
Super Micro Computer primarily focuses on developing and manufacturing high-performance server and storage solutions based on modular and open architecture principles across multiple global markets. The company operates in various regions including the United States, Europe, Asia, and other international locations.
The product portfolio offered by Super Micro Computer encompasses a wide range of solutions such as complete server and storage systems along with modular blade servers that provide enhanced flexibility to meet diverse customer needs. Additionally, Super Micro offers blades, workstations, full racks, networking devices, server sub-systems, as well as server management software and security software solutions.
With a robust emphasis on modularity and open architecture designs in their product offerings, Super Micro Computer positions itself favorably within the industry as it allows customers to easily customize and scale their infrastructure to meet evolving business requirements.
Despite falling short of analysts’ EPS projections for the previous quarter ($1.47), Super Micro Computer still maintains a healthy net margin of 8.93% and an impressive return on equity of 34.72%. These positive indicators bode well for the company’s future performance.
Looking ahead, sell-side analysts anticipate Super Micro Computer, Inc. to achieve earnings per share of 10.44 for the current fiscal year, demonstrating continued growth and financial stability.
In conclusion, LSV Asset Management has demonstrated confidence in Super Micro Computer, Inc. as it increased its stake in the company during the first quarter. While the latest earnings report showed a slight miss on EPS expectations, Super Micro Computer remains a leading provider of high-performance server and storage solutions across global markets. With its emphasis on modularity and open architecture, the company is well-positioned to capitalize on evolving customer demands going forward.
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Institutional Investors and Hedge Funds Show Confidence in Super Micro Computer
Super Micro Computer, Inc. (SMCI) has recently seen modifications in the holdings of several hedge funds. One notable change is that OLD Mission Capital LLC acquired a new stake in SMCI during the fourth quarter, worth approximately $35,000. Additionally, IFP Advisors Inc increased its stake in SMCI by 182% during the same period.
Byrne Asset Management LLC also obtained a new stake in SMCI during the first quarter, valued at around $46,000. Furthermore, Captrust Financial Advisors raised its stake by 31.5% in the second quarter and now owns 1,415 shares of SMCI worth $57,000. Lastly, EverSource Wealth Advisors LLC acquired a new stake in SMCI during the fourth quarter with a value of approximately $62,000. Overall, institutional investors and hedge funds own 79.37% of the company’s stock.
On Friday, July 28th, Super Micro Computer’s stock opened at $327.34 with a market capitalization of $17.19 billion. The company boasts a price-to-earnings ratio of 30.82 and a beta of 1.19. Over the past fifty days, its moving average has been $244.92 and the 200-day moving average stood at $150.50.
Super Micro Computer and its subsidiaries specialize in developing and manufacturing high-performance server and storage solutions based on modular and open architecture across various regions globally including the United States, Europe, Asia,and other international markets. Their product range includes server systems and peripherals such as blades servers,wokstations,networking devices,and security software.
Furthermore,Super Micro Computer has been subject to multiple analyst reports.On May 18th StockNews.com initiated coverage on Super Micro Computer with a “hold” rating Northland Securities raised their price target for Super Micro computer from$300 to$345 giving it an “outperform” rating. Rosenblatt Securities also raised their price target from $300 to $375 and giving Super Micro Computer a “buy” rating.WedBush maintained their “underperform” rating and set a $65.00 price target on Super Micro Computer.Numerous sources, including Bloomberg.com,state that the company currently has a consensus rating of “Hold” with an average price target of $209.17.
In recent news, CEO Charles Liang sold 43,932 shares of SMCI stock on Thursday, June 1st at an average price of $227.89, resulting in a total transaction value of $10,011,663.48. Following this sale,Liang now owns 1,827 shares with a value of $416,355.03.In another transaction on the same day,Liang sold additional 43,932 shares for the same price per share and has his own stake valued over four hundred thousand dollars.What’s more impressive is that Liang and other insiders have sold 60,999 shares worth $13,922,295 within the last three months.
In addition to insider transactions,a notable acquisition occured when Director Shiu Leung Chan purchased 1,000 shares at an average cost of $133.09 each.On completion of this purchase,the director now holds 30,000 shares worth approximately$3,9927 where you can see all legal disclosure related with these movements via SEC’s website.
Super Micro computer continues to make strides in the industry with their innovative server and storage solutions.The recent modifications in holdings by hedge funds highlight investor confidence in the company’s potential for growth.With various analysts giving positive evaluations and several insiders actively involved in stock transactions,it will be interesting to see how Super Micro computer progresses moving forward.
