Russell Investments Group Ltd. Decreases Stock Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Russell Investments Group Ltd. lessened its holdings in shares of SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) by 37.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 218,647 shares of the company’s stock after selling 133,120 shares during the quarter. Russell Investments Group Ltd. owned 0.44% of SMART Global worth $3,253,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Royce & Associates LP grew its holdings in SMART Global by 129.5% during the third quarter. Royce & Associates LP now owns 48,037 shares of the company’s stock worth $762,000 after acquiring an additional 27,108 shares during the period. Exchange Traded Concepts LLC boosted its stake in SMART Global by 5.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 23,892 shares of the company’s stock valued at $356,000 after buying an additional 1,179 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in SMART Global by 6.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 16,601 shares of the company’s stock worth $263,000 after purchasing an additional 1,069 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of SMART Global by 25.3% during the third quarter. Mutual of America Capital Management LLC now owns 9,945 shares of the company’s stock worth $158,000 after acquiring an additional 2,005 shares during the last quarter. Finally, Foundry Partners LLC raised its position in shares of SMART Global by 10.9% during the fourth quarter. Foundry Partners LLC now owns 249,945 shares of the company’s stock worth $3,719,000 after acquiring an additional 24,585 shares during the last quarter.

Insider Activity

In other news, SVP Thierry Pellegrino sold 2,764 shares of the company’s 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 directly owns 74,951 shares of the company’s stock, valued at $1,197,716.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on SGH. Stifel Nicolaus lowered their price target on SMART Global from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, April 5th. Rosenblatt Securities restated a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research note on Wednesday, April 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of SMART Global in a research note on Wednesday, April 5th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.40.

SMART Global Stock Performance

Shares of SMART Global stock opened at $19.35 on Friday. The company has a market cap of $949.50 million, a PE ratio of 49.62 and a beta of 1.43. SMART Global Holdings, Inc. has a 52 week low of $12.04 and a 52 week high of $25.40. The business has a 50 day moving average price of $16.20 and a 200-day moving average price of $16.38. The company has a quick ratio of 1.63, a current ratio of 2.33 and a debt-to-equity ratio of 2.38.

SMART Global Profile

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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.