KLP Kapitalforvaltning AS Buys Shares of 173,600 Super Micro Computer, Inc. (NASDAQ:SMCI)

KLP Kapitalforvaltning AS purchased a new position in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 173,600 shares of the company’s stock, valued at approximately $5,291,000.

A number of other hedge funds also recently modified their holdings of the stock. Clear Creek Financial Management LLC bought a new stake in shares of Super Micro Computer in the fourth quarter valued at $635,000. Nepsis Inc. bought a new stake in Super Micro Computer in the 4th quarter valued at about $13,625,000. Sanctuary Advisors LLC lifted its holdings in Super Micro Computer by 254.7% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $12,756,000 after purchasing an additional 21,997 shares during the last quarter. Fifth Third Bancorp boosted its position in Super Micro Computer by 1,476.6% during the fourth quarter. Fifth Third Bancorp now owns 12,266 shares of the company’s stock worth $374,000 after purchasing an additional 11,488 shares during the period. Finally, Bridgewater Associates LP increased its stake in shares of Super Micro Computer by 921.1% in the third quarter. Bridgewater Associates LP now owns 161,104 shares of the company’s stock worth $67,084,000 after purchasing an additional 145,327 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now owns 19,449 shares of the company’s stock, valued at $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock valued at $6,771,552 over the last 90 days. 17.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a report on Thursday, March 6th. Rosenblatt Securities initiated coverage on Super Micro Computer in a report on Monday, March 10th. They issued a “buy” rating and a $60.00 price target for the company. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. The Goldman Sachs Group cut Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $40.00 to $32.00 in a report on Monday. Finally, Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Super Micro Computer Stock Performance

Super Micro Computer stock opened at $40.64 on Wednesday. Super Micro Computer, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $110.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market cap of $24.12 billion, a P/E ratio of 20.40 and a beta of 1.21. The firm’s fifty day moving average price is $39.07 and its 200-day moving average price is $37.83.

About Super Micro Computer

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.