SMART Global (NASDAQ:SGH) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of SMART Global (NASDAQ:SGH) in a research note released on Monday, Benzinga reports. They currently have a $27.00 price target on the stock.

Separately, Stifel Nicolaus increased their price target on SMART Global from $26.00 to $27.50 and gave the stock a buy rating in a research report on Wednesday, April 10th.

SMART Global Trading Up 4.1 %

SMART Global stock opened at $18.49 on Monday. The stock has a 50-day moving average price of $22.35 and a 200 day moving average price of $19.64. The company has a market capitalization of $967.03 million, a price-to-earnings ratio of -5.02 and a beta of 1.74. SMART Global has a 52 week low of $12.66 and a 52 week high of $29.99. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80.

Insider Activity

In related news, Director Penny Herscher sold 2,525 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $22.62, for a total transaction of $57,115.50. Following the sale, the director now directly owns 12,713 shares of the company’s stock, valued at $287,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the transaction, the director now owns 12,713 shares in the company, valued at approximately $287,568.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in SMART Global by 75.6% during the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock worth $4,447,000 after acquiring an additional 101,159 shares during the period. Deutsche Bank AG raised its position in shares of SMART Global by 46.3% during the 3rd quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after purchasing an additional 152,918 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of SMART Global during the 3rd quarter worth about $1,994,000. American Century Companies Inc. lifted its stake in SMART Global by 42.3% in the 3rd quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock valued at $7,133,000 after buying an additional 87,035 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in SMART Global in the 3rd quarter worth about $702,000.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.