Brokerages Set SMART Global Holdings, Inc. (NASDAQ:SGH) Target Price at $43.00

SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) has been assigned a consensus recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of research analysts have weighed in on the stock. Stifel Europe raised their target price on shares of SMART Global from $35.00 to $45.00 in a research note on Monday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on SMART Global from $35.00 to $40.00 in a research report on Wednesday, January 5th. Stifel Nicolaus upped their target price on SMART Global from $35.00 to $45.00 in a report on Monday, January 3rd. Rosenblatt Securities raised their target price on SMART Global from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. Finally, Needham & Company LLC boosted their price target on shares of SMART Global from $42.50 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 6th.

In other SMART Global news, CEO Mark Adams sold 7,223 shares of SMART Global stock in a transaction dated Thursday, January 20th. The shares were sold at an average price of $59.83, for a total transaction of $432,152.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jack A. Pacheco sold 2,602 shares of the company’s stock in a transaction that occurred on Thursday, January 20th. The stock was sold at an average price of $61.06, for a total transaction of $158,878.12. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGH. Global Retirement Partners LLC raised its holdings in shares of SMART Global by 159.0% in the 3rd quarter. Global Retirement Partners LLC now owns 689 shares of the company’s stock valued at $31,000 after buying an additional 423 shares during the period. Point72 Hong Kong Ltd boosted its holdings in SMART Global by 618.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,969 shares of the company’s stock valued at $88,000 after acquiring an additional 1,695 shares during the period. Mutual of America Capital Management LLC grew its position in SMART Global by 59.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 3,073 shares of the company’s stock valued at $137,000 after acquiring an additional 1,140 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in SMART Global during the fourth quarter worth about $183,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of SMART Global during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 50.64% of the company’s stock.

Shares of SGH stock opened at $23.58 on Monday. SMART Global has a fifty-two week low of $20.30 and a fifty-two week high of $37.25. The company has a quick ratio of 1.49, a current ratio of 2.12 and a debt-to-equity ratio of 1.36. The company has a fifty day moving average price of $26.28. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 36.56 and a beta of 1.14.

SMART Global (NASDAQ:SGH – Get Rating) last issued its earnings results on Tuesday, April 5th. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.15. The business had revenue of $449.17 million during the quarter, compared to analysts’ expectations of $435.00 million. SMART Global had a net margin of 1.97% and a return on equity of 49.59%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts predict that SMART Global will post 2.77 earnings per share for the current year.

SMART Global Company Profile (Get Rating)

SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

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