Principal Financial Group Inc. Has $19.06 Million Stock Holdings in Super Micro Computer, Inc. (NASDAQ:SMCI)

Principal Financial Group Inc. raised its stake in Super Micro Computer, Inc. (NASDAQ:SMCI) by 887.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 625,339 shares of the company’s stock after purchasing an additional 562,029 shares during the period. Principal Financial Group Inc. owned 0.11% of Super Micro Computer worth $19,060,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust bought a new position in Super Micro Computer in the 3rd quarter valued at about $87,000. Retirement Systems of Alabama grew its position in shares of Super Micro Computer by 2.3% in the third quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after purchasing an additional 258 shares during the last quarter. TrueWealth Advisors LLC increased its stake in shares of Super Micro Computer by 99.0% during the third quarter. TrueWealth Advisors LLC now owns 593 shares of the company’s stock worth $247,000 after purchasing an additional 295 shares during the period. Miller Wealth Advisors LLC acquired a new stake in Super Micro Computer during the 3rd quarter worth approximately $152,000. Finally, State of Alaska Department of Revenue boosted its stake in Super Micro Computer by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,873 shares of the company’s stock valued at $2,445,000 after purchasing an additional 395 shares during the period. 84.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SMCI has been the topic of several recent research reports. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their price target on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday. Northland Securities reissued an “outperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Super Micro Computer in a report on Wednesday, February 12th. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Wedbush reiterated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.73.

Super Micro Computer Stock Performance

Super Micro Computer stock opened at $51.61 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The stock has a market cap of $30.22 billion, a PE ratio of 25.91 and a beta of 1.30. Super Micro Computer, Inc. has a 12-month low of $17.25 and a 12-month high of $122.90. The business’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $39.69.

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.