SMART Global Holdings, Inc. (NASDAQ:SGH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 34.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,460 shares of the company’s stock after selling 204,403 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of SMART Global worth $6,732,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of SMART Global by 65.4% in 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. Point72 Middle East FZE bought a new position in SMART Global in the fourth quarter worth about $32,000. Captrust Financial Advisors boosted its stake in SMART Global by 42.2% in the second quarter. Captrust Financial Advisors now owns 2,849 shares of the company’s stock valued at $47,000 after acquiring an additional 846 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of SMART Global by 93.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,434 shares of the company’s stock valued at $55,000 after purchasing an additional 1,662 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of SMART Global during the 2nd quarter worth approximately $64,000.

SMART Global Stock Up 0.7 %

SGH stock opened at $26.02 on Tuesday. The firm’s 50-day moving average is $25.97 and its two-hundred day moving average is $21.17. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -47.31 and a beta of 1.46. SMART Global Holdings, Inc. has a 52 week low of $12.04 and a 52 week high of $29.99. The company has a current ratio of 2.44, a quick ratio of 1.85 and a debt-to-equity ratio of 2.41.

SMART Global (NASDAQ:SGH) last announced its earnings results on Thursday, June 29th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.40 by $0.26. The firm had revenue of $383.33 million for the quarter, compared to analysts’ expectations of $375.08 million. SMART Global had a positive return on equity of 32.78% and a negative net margin of 1.56%. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, analysts forecast that SMART Global Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SMART Global news, Director Sandeep Nayyar sold 12,356 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $27.39, for a total value of $338,430.84. Following the completion of the sale, the director now directly owns 29,837 shares of the company’s stock, valued at approximately $817,235.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Jack A. Pacheco sold 5,000 shares of SMART Global stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $25.07, for a total value of $125,350.00. Following the transaction, the chief operating officer now directly owns 202,375 shares in the company, valued at approximately $5,073,541.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandeep Nayyar sold 12,356 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $27.39, for a total value of $338,430.84. Following the sale, the director now directly owns 29,837 shares of the company’s stock, valued at $817,235.43. The disclosure for this sale can be found here. Insiders have sold a total of 67,595 shares of company stock valued at $1,758,770 over the last three months. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SGH shares. Deutsche Bank Aktiengesellschaft upped their price objective on SMART Global from $28.00 to $34.00 in a research note on Friday, June 30th. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price objective on shares of SMART Global in a research report on Friday, July 14th. Rosenblatt Securities restated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a research report on Friday, June 30th. Stifel Nicolaus lifted their price target on SMART Global from $27.00 to $32.00 in a report on Wednesday, June 28th. Finally, Barclays increased their price objective on SMART Global from $20.00 to $30.00 in a report on Wednesday, June 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, SMART Global currently has an average rating of “Buy” and a consensus price target of $33.60.

About SMART Global

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.