SMART Global Holdings, Inc. (NASDAQ:SGH) Receives $43.00 Consensus PT from Brokerages

Shares of SMART Global Holdings, Inc. (NASDAQ:SGHGet Rating) have earned an average recommendation of “Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of research firms have recently commented on SGH. 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. Barclays reduced their price target on shares of SMART Global from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, April 6th. TheStreet lowered shares of SMART Global from a “b-” rating to a “c+” rating in a research report on Tuesday, April 5th. Zacks Investment Research lowered shares of SMART Global from a “buy” rating to a “hold” rating in a research report on Tuesday, January 11th. Finally, Rosenblatt Securities upped their target price on shares of SMART Global from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 6th.

Shares of SGH stock opened at $23.26 on Friday. The firm’s fifty day simple moving average is $24.76. The company has a market cap of $1.16 billion, a PE ratio of 36.06 and a beta of 1.17. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.12 and a quick ratio of 1.49. SMART Global has a 1 year low of $20.30 and a 1 year high of $37.25.

SMART Global (NASDAQ:SGHGet Rating) last released its quarterly earnings results on Tuesday, April 5th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $449.17 million during the quarter, compared to analyst estimates of $435.00 million. SMART Global had a net margin of 1.97% and a return on equity of 49.59%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. As a group, analysts forecast that SMART Global will post 2.92 EPS for the current fiscal year.

In other SMART Global news, SVP Claude Demby sold 27,365 shares of the company’s stock in a transaction dated Friday, April 22nd. The shares were sold at an average price of $23.93, for a total transaction of $654,844.45. Following the completion of the sale, the senior vice president now directly owns 164,500 shares in the company, valued at $3,936,485. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SGH. Los Angeles Capital Management LLC raised its stake in shares of SMART Global by 98.4% during the first quarter. Los Angeles Capital Management LLC now owns 136,912 shares of the company’s stock valued at $3,536,000 after acquiring an additional 67,903 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of SMART Global by 100.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,792 shares of the company’s stock valued at $279,000 after acquiring an additional 5,396 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of SMART Global by 98.3% during the first quarter. Texas Permanent School Fund now owns 33,260 shares of the company’s stock valued at $859,000 after acquiring an additional 16,491 shares during the last quarter. IndexIQ Advisors LLC raised its stake in shares of SMART Global by 67.4% during the first quarter. IndexIQ Advisors LLC now owns 15,362 shares of the company’s stock valued at $397,000 after acquiring an additional 6,185 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of SMART Global by 126.5% during the first quarter. New York State Common Retirement Fund now owns 30,800 shares of the company’s stock valued at $796,000 after acquiring an additional 17,200 shares during the last quarter. Institutional investors and hedge funds own 52.61% of the company’s stock.

About SMART Global (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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