Principal Financial Group Inc. Acquires 168,340 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

Posted by on May 24th, 2023

Principal Financial Group Inc. grew its holdings in shares of Super Micro Computer, Inc. (NASDAQ:SMCI – Get Rating) by 1,255.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,749 shares of the company’s stock after acquiring an additional 168,340 shares during the period. Principal Financial Group Inc. owned about 0.34% of Super Micro Computer worth $14,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. ExodusPoint Capital Management LP boosted its holdings in Super Micro Computer by 14.7% in the 3rd quarter. ExodusPoint Capital Management LP now owns 199,656 shares of the company’s stock worth $10,995,000 after buying an additional 25,663 shares during the period. Van ECK Associates Corp bought a new position in Super Micro Computer in the 4th quarter worth $125,000. Renaissance Technologies LLC boosted its holdings in Super Micro Computer by 2,901.7% in the 3rd quarter. Renaissance Technologies LLC now owns 373,415 shares of the company’s stock worth $20,564,000 after buying an additional 360,975 shares during the period. Trexquant Investment LP boosted its holdings in Super Micro Computer by 100.0% in the 3rd quarter. Trexquant Investment LP now owns 27,052 shares of the company’s stock worth $1,490,000 after buying an additional 13,525 shares during the period. Finally, Great West Life Assurance Co. Can bought a new position in Super Micro Computer in the 3rd quarter worth $174,000. Institutional investors own 73.08% of the company’s stock.

Insider Transactions at Super Micro Computer

In related news, Director Shiu Leung Chan bought 1,000 shares of Super Micro Computer stock in a transaction dated Wednesday, May 10th. The shares were acquired at an average cost of $133.09 per share, with a total value of $133,090.00. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at approximately $3,992,700. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Shiu Leung Chan acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average cost of $133.09 per share, with a total value of $133,090.00. Following the completion of the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at $3,992,700. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP George Kao sold 553 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.19, for a total transaction of $74,760.07. Following the transaction, the senior vice president now owns 7,239 shares of the company’s stock, valued at $978,640.41. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SMCI shares. Susquehanna increased their price objective on shares of Super Micro Computer from $69.00 to $90.00 in a report on Wednesday, May 3rd. StockNews.com started coverage on shares of Super Micro Computer in a report on Thursday, May 18th. They set a “hold” rating for the company. Loop Capital increased their price objective on shares of Super Micro Computer from $100.00 to $150.00 in a report on Wednesday, May 3rd. Wedbush restated an “underperform” rating and set a $65.00 target price on shares of Super Micro Computer in a research report on Wednesday, May 3rd. Finally, Northland Securities upped their target price on shares of Super Micro Computer from $175.00 to $200.00 in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.00.

Super Micro Computer Stock Performance

Shares of NASDAQ:SMCI opened at $161.91 on Wednesday. The firm has a market cap of $8.50 billion, a PE ratio of 15.25 and a beta of 1.25. The firm’s 50 day simple moving average is $117.06 and its 200-day simple moving average is $96.75. Super Micro Computer, Inc. has a one year low of $37.01 and a one year high of $171.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 2.49.

Super Micro Computer Company Profile

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Super Micro Computer, Inc engages in the distribution and manufacture of information technology solutions and other computer products. Its products include twin solutions, MP servers, GPU and coprocessor, MicroCloud, AMD solutions, power supplies, SuperServer, storage, motherboards, chassis, super workstations, accessories, SuperRack and server management products.

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Institutional Ownership by Quarter for Super Micro Computer (NASDAQ:SMCI)

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