Smart Global (NASDAQ:SGH) had its target price hoisted by Stifel Nicolaus from $61.00 to $62.00 in a research note issued to investors on Friday morning. They currently have a buy rating on the stock.
Several other equities research analysts have also commented on the stock. Deutsche Bank boosted their price target on shares of Smart Global from $56.00 to $60.00 and gave the stock a buy rating in a report on Tuesday, June 12th. Needham & Company LLC reissued a buy rating and issued a $75.00 price target on shares of Smart Global in a report on Tuesday, June 12th. Zacks Investment Research raised shares of Smart Global from a hold rating to a buy rating and set a $45.00 price target for the company in a report on Saturday, June 23rd. BidaskClub lowered shares of Smart Global from a strong-buy rating to a buy rating in a report on Tuesday, June 26th. Finally, ValuEngine lowered shares of Smart Global from a buy rating to a hold rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $53.14.
NASDAQ:SGH opened at $34.15 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.82. The company has a market cap of $641.12 million, a PE ratio of 16.74 and a beta of -0.39. Smart Global has a 1-year low of $26.50 and a 1-year high of $56.69.
Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, October 4th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.06. The firm had revenue of $373.97 million during the quarter, compared to analyst estimates of $368.51 million. Smart Global had a net margin of 6.99% and a return on equity of 94.82%. The business’s quarterly revenue was up 67.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Analysts expect that Smart Global will post 5.89 earnings per share for the current fiscal year.
In other Smart Global news, insider Alan Marten sold 8,000 shares of Smart Global stock in a transaction on Monday, July 16th. The shares were sold at an average price of $31.31, for a total transaction of $250,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $30.25, for a total transaction of $226,875.00. The disclosure for this sale can be found here. In the last three months, insiders sold 84,731 shares of company stock valued at $2,611,889. 6.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new position in shares of Smart Global during the 3rd quarter valued at about $227,000. Northern Trust Corp boosted its position in shares of Smart Global by 29.9% during the 2nd quarter. Northern Trust Corp now owns 132,082 shares of the company’s stock valued at $4,209,000 after acquiring an additional 30,435 shares during the last quarter. Millennium Management LLC boosted its position in shares of Smart Global by 9.9% during the 2nd quarter. Millennium Management LLC now owns 44,705 shares of the company’s stock valued at $1,425,000 after acquiring an additional 4,029 shares during the last quarter. Hillcrest Asset Management LLC acquired a new position in shares of Smart Global during the 2nd quarter valued at about $3,624,000. Finally, Macquarie Group Ltd. boosted its position in shares of Smart Global by 13.2% during the 2nd quarter. Macquarie Group Ltd. now owns 20,600 shares of the company’s stock valued at $657,000 after acquiring an additional 2,400 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors.
Smart Global Company Profile
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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