Mutual of America Capital Management LLC Buys 3,596 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

Mutual of America Capital Management LLC boosted its stake in SMART Global Holdings, Inc. (NASDAQ:SGHGet Rating) by 113.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,760 shares of the company’s stock after acquiring an additional 3,596 shares during the period. Mutual of America Capital Management LLC’s holdings in SMART Global were worth $175,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its position in shares of SMART Global by 4.5% in the fourth quarter. State Street Corp now owns 1,339,438 shares of the company’s stock valued at $95,087,000 after purchasing an additional 57,953 shares during the period. Peregrine Capital Management LLC raised its position in shares of SMART Global by 127.7% in the first quarter. Peregrine Capital Management LLC now owns 628,936 shares of the company’s stock valued at $16,245,000 after purchasing an additional 352,734 shares during the period. Renaissance Technologies LLC raised its position in shares of SMART Global by 237.2% in the fourth quarter. Renaissance Technologies LLC now owns 501,986 shares of the company’s stock valued at $35,636,000 after purchasing an additional 353,100 shares during the period. Kennedy Capital Management Inc. raised its position in shares of SMART Global by 12.6% in the fourth quarter. Kennedy Capital Management Inc. now owns 496,643 shares of the company’s stock valued at $35,257,000 after purchasing an additional 55,628 shares during the period. Finally, Clark Capital Management Group Inc. raised its position in shares of SMART Global by 1,423.4% in the fourth quarter. Clark Capital Management Group Inc. now owns 496,051 shares of the company’s stock valued at $35,215,000 after purchasing an additional 463,488 shares during the period. Institutional investors own 52.61% of the company’s stock.

Insider Activity

In other SMART Global news, CFO Ken Rizvi acquired 4,250 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $17.85 per share, with a total value of $75,862.50. Following the purchase, the chief financial officer now owns 125,348 shares of the company’s stock, valued at $2,237,461.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark Adams purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average cost of $18.10 per share, for a total transaction of $181,000.00. Following the acquisition, the chief executive officer now directly owns 915,255 shares of the company’s stock, valued at approximately $16,566,115.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ken Rizvi purchased 4,250 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased at an average price of $17.85 per share, with a total value of $75,862.50. Following the completion of the acquisition, the chief financial officer now directly owns 125,348 shares in the company, valued at $2,237,461.80. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

SMART Global Stock Performance

Shares of SMART Global stock opened at $19.19 on Wednesday. SMART Global Holdings, Inc. has a 52-week low of $15.10 and a 52-week high of $37.25. The stock has a market cap of $959.31 million, a PE ratio of 15.54 and a beta of 1.37. The firm has a fifty day simple moving average of $20.13. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 1.22.

SMART Global (NASDAQ:SGHGet Rating) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. SMART Global had a net margin of 3.64% and a return on equity of 48.23%. The company had revenue of $462.54 million during the quarter, compared to analysts’ expectations of $455.02 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that SMART Global Holdings, Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SGH shares. Barclays lowered their price target on shares of SMART Global from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, June 30th. Needham & Company LLC reduced their price objective on shares of SMART Global from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Stifel Nicolaus cut their price target on shares of SMART Global from $45.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Rosenblatt Securities cut their price target on shares of SMART Global from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of SMART Global from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, SMART Global has an average rating of “Buy” and a consensus price target of $36.00.

SMART Global Profile

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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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Institutional Ownership by Quarter for SMART Global (NASDAQ:SGH)

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