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

SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.40.

A number of brokerages have recently weighed in on SGH. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of SMART Global in a research note on Wednesday, April 5th. Stifel Nicolaus lowered their target price on SMART Global from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, April 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a research note on Wednesday, April 5th.

SMART Global Stock Up 4.4 %

SGH opened at $17.00 on Tuesday. The stock has a market capitalization of $834.22 million, a price-to-earnings ratio of 43.59 and a beta of 1.43. SMART Global has a 1-year low of $12.04 and a 1-year high of $25.40. The business has a 50 day moving average of $16.08 and a 200-day moving average of $16.32. The company has a current ratio of 2.33, a quick ratio of 1.63 and a debt-to-equity ratio of 2.38.

Insider Transactions at SMART Global

In other news, SVP Thierry Pellegrino sold 2,764 shares of the stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $15.98, for a total value of $44,168.72. Following the completion of the transaction, the senior vice president now owns 74,951 shares of the company’s stock, valued at approximately $1,197,716.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On SMART Global

Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in SMART Global by 65.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company’s stock worth $26,000 after buying an additional 641 shares in the last quarter. CWM LLC increased its position in shares of SMART Global by 230.1% during the fourth quarter. CWM LLC now owns 1,928 shares of the company’s stock worth $29,000 after purchasing an additional 1,344 shares in the last quarter. Point72 Middle East FZE acquired a new position in shares of SMART Global during the fourth quarter worth $32,000. Quantbot Technologies LP acquired a new position in shares of SMART Global during the third quarter worth $34,000. Finally, Captrust Financial Advisors increased its position in shares of SMART Global by 42.2% during the second quarter. Captrust Financial Advisors now owns 2,849 shares of the company’s stock worth $47,000 after purchasing an additional 846 shares in the last quarter.

About SMART Global

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SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Memory Solutions, Intelligent Platform Solutions (IPS), and LED Solutions.