State of Michigan Retirement System Acquires 53,900 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

State of Michigan Retirement System raised its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 65.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,700 shares of the company’s stock after purchasing an additional 53,900 shares during the quarter. State of Michigan Retirement System’s holdings in Super Micro Computer were worth $4,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SMCI. Bank of New York Mellon Corp lifted its holdings in shares of Super Micro Computer by 798.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,944,620 shares of the company’s stock valued at $89,752,000 after acquiring an additional 2,616,757 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Super Micro Computer by 956.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,018 shares of the company’s stock valued at $40,143,000 after purchasing an additional 1,192,366 shares during the last quarter. National Pension Service bought a new stake in Super Micro Computer in the fourth quarter worth $28,932,000. Rhumbline Advisers lifted its position in Super Micro Computer by 897.0% in the fourth quarter. Rhumbline Advisers now owns 984,305 shares of the company’s stock worth $30,002,000 after buying an additional 885,582 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Super Micro Computer by 887.7% in the fourth quarter. Principal Financial Group Inc. now owns 625,339 shares of the company’s stock worth $19,060,000 after buying an additional 562,029 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Performance

SMCI stock opened at $38.24 on Friday. The business has a 50-day moving average price of $36.95 and a 200 day moving average price of $38.96. Super Micro Computer, Inc. has a 1-year low of $17.25 and a 1-year high of $122.90. The company has a market capitalization of $22.69 billion, a P/E ratio of 19.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMCI. Barclays began coverage on shares of Super Micro Computer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 target price for the company. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. The Goldman Sachs Group raised their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. StockNews.com raised shares of Super Micro Computer to a “sell” rating in a research note on Friday, February 28th. Finally, Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Super Micro Computer has a consensus rating of “Hold” and a consensus target price of $56.64.

Insider Buying and Selling

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Liang sold 46,293 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at $3,381,640,618.80. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 over the last 90 days. Corporate insiders own 17.60% of the company’s stock.

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.