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

SMART Global Holdings, Inc. (NASDAQ:SGHGet Rating) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.50.

Several equities research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of SMART Global from $30.00 to $23.00 in a report on Tuesday, October 25th. TheStreet downgraded shares of SMART Global from a “b-” rating to a “c+” rating in a research note on Monday, September 26th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of SMART Global from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, October 5th. Barclays lowered their target price on shares of SMART Global from $22.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, October 24th. Finally, Rosenblatt Securities decreased their price target on shares of SMART Global from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, October 5th.

SMART Global Trading Down 2.2 %

Shares of SGH stock opened at $16.54 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.23 and a debt-to-equity ratio of 1.56. SMART Global has a 12-month low of $12.04 and a 12-month high of $37.25. The firm has a 50 day moving average price of $15.24 and a two-hundred day moving average price of $18.43. The company has a market capitalization of $804.17 million, a PE ratio of 13.29 and a beta of 1.25.

SMART Global (NASDAQ:SGHGet Rating) last issued its quarterly earnings results on Tuesday, October 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.01 million. SMART Global had a return on equity of 42.03% and a net margin of 3.66%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. As a group, analysts predict that SMART Global will post 1.5 earnings per share for the current year.

Insider Activity

In related news, SVP Thierry Pellegrino sold 8,426 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $17.23, for a total transaction of $145,179.98. Following the sale, the senior vice president now owns 85,729 shares of the company’s stock, valued at approximately $1,477,110.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Penny Herscher sold 2,156 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $16.11, for a total value of $34,733.16. Following the completion of the sale, the director now owns 5,484 shares of the company’s stock, valued at approximately $88,347.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thierry Pellegrino sold 8,426 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $17.23, for a total transaction of $145,179.98. Following the completion of the sale, the senior vice president now directly owns 85,729 shares of the company’s stock, valued at approximately $1,477,110.67. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SMART Global

A number of institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. boosted its stake in shares of SMART Global by 40.0% in the 3rd quarter. Nomura Holdings Inc. now owns 108,532 shares of the company’s stock valued at $1,733,000 after purchasing an additional 31,000 shares in the last quarter. State Street Corp boosted its position in SMART Global by 1.9% during the 3rd quarter. State Street Corp now owns 2,822,430 shares of the company’s stock valued at $44,792,000 after buying an additional 52,397 shares during the period. Public Employees Retirement System of Ohio boosted its position in SMART Global by 65.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company’s stock valued at $26,000 after buying an additional 641 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in SMART Global by 38.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 852,224 shares of the company’s stock valued at $13,525,000 after buying an additional 236,944 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in SMART Global by 11.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 51,677 shares of the company’s stock valued at $820,000 after buying an additional 5,230 shares during the period. Hedge funds and other institutional investors own 52.87% 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 three segments: Memory Solutions, Intelligent Platform Solutions, and LED Solutions. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

Further Reading

Analyst Recommendations for SMART Global (NASDAQ:SGH)

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