Super Micro Computer Inc. has experienced a remarkable surge in their shares, with a growth of over 600% in the past year. In a signal of confidence, board member Fred Chan recently purchased 2,000 Super Micro shares at $568 each, spending a total of $1.14 million in an open-market transaction. This purchase brings Chan’s ownership of Super Micro shares to 42,917, currently valued at more than $28 million.
Super Micro, known as an Nvidia Corp. partner, has seen a substantial increase in their shares due to strong momentum in the business. The company’s sales have doubled in the latest quarter, and analysts project that they will triple in the current quarter, primarily driven by the artificial intelligence frenzy.
The CEO of Super Micro, Charles Liang, expressed optimism about the future during the company’s earnings call. Liang stated that they are entering a phase of accelerating demand, with many new customer wins. He confidently believes that the AI boom will continue for many quarters, if not years to come.
While Fred Chan demonstrated his faith in Super Micro by purchasing shares, fellow board member Daniel Fairfax chose to sell some of his stock. Fairfax sold 300 shares at $540 each, amounting to a value of $162,000. Currently, Fairfax holds 20,087 Super Micro shares worth approximately $13 million.
Super Micro has yet to provide comment on these transactions from both the company and the individuals involved.