SMART Global Holdings, Inc. (NASDAQ:SGH) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) have received a consensus rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $64.43.

A number of analysts recently issued reports on SGH shares. Jefferies Financial Group upped their target price on SMART Global from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 7th. Deutsche Bank Aktiengesellschaft upped their price objective on SMART Global from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 7th. Stifel Nicolaus upped their price objective on SMART Global from $62.50 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 7th. They noted that the move was a valuation call. Needham & Company LLC upped their price objective on SMART Global from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 7th. Finally, TheStreet downgraded SMART Global from a “b-” rating to a “c+” rating in a research note on Tuesday, July 6th.

Shares of NASDAQ SGH traded up $0.51 during trading hours on Thursday, reaching $49.37. The stock had a trading volume of 164,924 shares, compared to its average volume of 403,101. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 159.26 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 1.22. SMART Global has a fifty-two week low of $23.60 and a fifty-two week high of $58.39. The firm has a 50-day moving average of $47.19 and a 200-day moving average of $47.72.

SMART Global (NASDAQ:SGH) last announced its earnings results on Monday, July 5th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.30. The firm had revenue of $437.73 million during the quarter, compared to analysts’ expectations of $415.48 million. SMART Global had a return on equity of 25.39% and a net margin of 0.62%. The business’s revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. On average, equities analysts predict that SMART Global will post 3.52 EPS for the current year.

In related news, major shareholder Lake (Offshore) Aiv Gp Silver sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $50.50, for a total value of $151,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $42.09, for a total value of $315,675.00. Following the completion of the transaction, the chief operating officer now directly owns 97,909 shares of the company’s stock, valued at $4,120,989.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,026,647 shares of company stock valued at $152,692,140. Company insiders own 4.10% of the company’s stock.

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors grew its holdings in SMART Global by 2,724.0% during the 1st quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $32,000 after buying an additional 681 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in SMART Global during the 2nd quarter valued at $45,000. NEXT Financial Group Inc grew its holdings in SMART Global by 11,904.8% during the 2nd quarter. NEXT Financial Group Inc now owns 2,521 shares of the company’s stock valued at $120,000 after buying an additional 2,500 shares during the last quarter. Amundi acquired a new stake in SMART Global during the 2nd quarter valued at $170,000. Finally, LPL Financial LLC acquired a new stake in SMART Global during the 2nd quarter valued at $203,000.

SMART Global Company Profile

SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).

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Analyst Recommendations for SMART Global (NASDAQ:SGH)

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