Arizona State Retirement System Acquires Shares of 152,296 Super Micro Computer, Inc. (NASDAQ:SMCI)

Arizona State Retirement System bought a new stake in Super Micro Computer, Inc. (NASDAQ:SMCI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 152,296 shares of the company's stock, valued at approximately $5,215,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SMCI. Central Pacific Bank Trust Division acquired a new stake in Super Micro Computer in the 1st quarter worth approximately $34,000. IMG Wealth Management Inc. raised its position in Super Micro Computer by 90.7% during the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock worth $36,000 after buying an additional 500 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Super Micro Computer in the 4th quarter worth $33,000. AlphaQuest LLC increased its holdings in Super Micro Computer by 233.0% in the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after acquiring an additional 762 shares in the last quarter. Finally, Quarry LP purchased a new stake in Super Micro Computer in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 84.06% of the company's stock.

Insider Activity

In other news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total value of $13,500,000.00. Following the sale, the director directly owned 66,903,640 shares in the company, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the completion of the sale, the chief financial officer owned 88,599 shares in the company, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 667,000 shares of company stock valued at $29,949,340. Company insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SMCI. Wall Street Zen raised shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Super Micro Computer from $35.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday. Rosenblatt Securities cut their target price on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and set a $39.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 7th. Finally, Citigroup reiterated a "neutral" rating and issued a $52.00 price target (up from $37.00) on shares of Super Micro Computer in a research note on Friday, July 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $42.89.

Super Micro Computer Stock Down 2.0%

Shares of NASDAQ SMCI traded down $1.07 during mid-day trading on Friday, reaching $51.68. 22,442,821 shares of the company traded hands, compared to its average volume of 68,058,007. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.95 and a current ratio of 6.66. The stock has a market cap of $30.84 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. The company's fifty day moving average is $44.49 and its two-hundred day moving average is $39.10. Super Micro Computer, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $83.50.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. On average, analysts expect that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

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.