Principal Financial Group Inc. Decreases Position in Super Micro Computer, Inc. (NASDAQ:SMCI)

Principal Financial Group Inc. reduced its stake in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) by 52.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,310 shares of the company’s stock after selling 68,837 shares during the quarter. Principal Financial Group Inc.’s holdings in Super Micro Computer were worth $26,362,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMCI. Vanguard Group Inc. raised its stake in shares of Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares during the period. GQG Partners LLC purchased a new stake in Super Micro Computer during the 1st quarter worth $1,325,466,000. International Assets Investment Management LLC lifted its holdings in Super Micro Computer by 63,634.1% in the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock worth $381,629,000 after buying an additional 915,058 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Super Micro Computer by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after buying an additional 2,011 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Super Micro Computer by 1,169.5% in the 3rd quarter. Van ECK Associates Corp now owns 134,670 shares of the company’s stock valued at $56,077,000 after buying an additional 124,062 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut Super Micro Computer from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $50.00 to $23.00 in a research note on Wednesday, November 6th. Cfra reaffirmed a “hold” rating and issued a $45.40 target price (down from $72.90) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Mizuho began coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They set a “neutral” rating and a $45.00 price target for the company. Loop Capital cut their price target on shares of Super Micro Computer from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Stock Down 6.6 %

Shares of Super Micro Computer stock opened at $21.70 on Wednesday. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 11.30 and a beta of 1.28. The business’s 50 day simple moving average is $41.52 and its 200-day simple moving average is $64.29. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. Super Micro Computer, Inc. has a twelve month low of $20.20 and a twelve month high of $122.90.

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.