Super Micro board member buys over $1 million in stock after 600% yearly surge

Super Micro Computer Inc. shares have surged more than 600% over the past year, but one board member just sent a signal of confidence by buying up stock. Fred Chan, who’s spent just over three years on the storage and server company’s board, scooped up 2,000 Super Micro shares SMCI, +14.44% Thursday at $568 apiece, according to a filing with the Securities and Exchange Commission made public Monday. He spent $1.14 million on the open-market transaction. Chan now owns 42,917 shares of Super Micro, worth ...