State of Alaska Department of Revenue Purchases 1,620 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI)

State of Alaska Department of Revenue boosted its position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,015 shares of the company’s stock after purchasing an additional 1,620 shares during the quarter. State of Alaska Department of Revenue’s holdings in Super Micro Computer were worth $2,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in Super Micro Computer by 2,890.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC increased its holdings in Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after purchasing an additional 893 shares during the period. Central Pacific Bank Trust Division purchased a new position in Super Micro Computer during the 1st quarter worth $34,000. Bernard Wealth Management Corp. purchased a new position in Super Micro Computer during the 4th quarter worth $33,000. Finally, AlphaQuest LLC increased its holdings in Super Micro Computer by 233.0% during the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company’s stock worth $33,000 after purchasing an additional 762 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Stock Performance

NASDAQ SMCI opened at $40.89 on Tuesday. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 21.51 and a beta of 1.40. Super Micro Computer, Inc. has a twelve month low of $17.25 and a twelve month high of $96.33. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $38.73 and a 200 day moving average of $37.37.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share 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 analysts’ expectations of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. Super Micro Computer’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. Sell-side analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMCI. KGI Securities began coverage on Super Micro Computer in a report on Wednesday, May 7th. They issued a “neutral” rating on the stock. Rosenblatt Securities cut their price target on Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Wedbush reiterated a “neutral” rating and issued a $30.00 price target (down from $40.00) on shares of Super Micro Computer in a report on Wednesday, May 7th. The Goldman Sachs Group downgraded Super Micro Computer from a “neutral” rating to a “sell” rating and cut their price target for the company from $40.00 to $32.00 in a report on Monday, March 24th. Finally, Mizuho set a $40.00 price target on Super Micro Computer and gave the company a “neutral” rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.63.

Insiders Place Their Bets

In other news, CEO Charles Liang sold 300,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 66,903,640 shares in the company, valued at $3,010,663,800. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David E. Weigand sold 67,000 shares of the company’s stock in a transaction that occurred on 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 now owns 88,599 shares of the company’s stock, valued at $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 three months, insiders sold 667,000 shares of company stock worth $29,949,340. 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.