Super Micro Computer, Inc. (NASDAQ:SMCI) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 465.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,700 shares of the company’s stock after acquiring an additional 54,900 shares during the period. State of Michigan Retirement System’s holdings in Super Micro Computer were worth $67,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Westhampton Capital LLC acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $295,000. AlphaMark Advisors LLC acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $1,122,000. Fox Hill Wealth Management acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $326,000. First Bank & Trust acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $2,119,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of Super Micro Computer during the 1st quarter valued at approximately $663,000. 84.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on SMCI shares. The Goldman Sachs Group lowered their price objective on Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. KeyCorp started coverage on Super Micro Computer in a research note on Wednesday, April 24th. They set a “sector weight” rating for the company. Northland Securities upped their price objective on Super Micro Computer from $925.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Loop Capital upped their price objective on Super Micro Computer from $600.00 to $1,500.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. started coverage on Super Micro Computer in a research note on Monday, March 25th. They set an “overweight” rating and a $1,150.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and a consensus target price of $954.38.

Super Micro Computer Price Performance

SMCI stock traded up $24.85 during trading hours on Tuesday, hitting $837.17. 5,487,484 shares of the stock traded hands, compared to its average volume of 8,615,997. The stock has a 50-day simple moving average of $834.86 and a 200 day simple moving average of $752.74. Super Micro Computer, Inc. has a one year low of $226.59 and a one year high of $1,229.00. The company has a market cap of $46.82 billion, a P/E ratio of 46.46, a P/E/G ratio of 0.74 and a beta of 1.27. The company has a current ratio of 4.69, a quick ratio of 2.29 and a debt-to-equity ratio of 0.35.

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

Insider Activity at Super Micro Computer

In related news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $419,585.00. Following the completion of the sale, the director now directly owns 27,813 shares of the company’s stock, valued at $23,339,835.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel W. Fairfax sold 300 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total value of $240,600.00. Following the sale, the director now directly owns 18,887 shares of the company’s stock, valued at $15,147,374. The disclosure for this sale can be found here. Insiders sold 1,325 shares of company stock valued at $1,116,736 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Super Micro Computer Company 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.