SMART Global Holdings, Inc. (NASDAQ:SGH) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 62.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,129,432 shares of the company’s stock after selling 10,035,205 shares during the quarter. Ameriprise Financial Inc. owned about 12.49% of SMART Global worth $105,671,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of SMART Global by 65.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company’s stock worth $26,000 after purchasing an additional 641 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of SMART Global by 162.9% during the first quarter. Captrust Financial Advisors now owns 2,003 shares of the company’s stock valued at $52,000 after acquiring an additional 1,241 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of SMART Global during the fourth quarter worth about $32,000. Tower Research Capital LLC TRC boosted its holdings in SMART Global by 93.8% in 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, Ameritas Investment Partners Inc. grew its stake in SMART Global by 181.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,784 shares of the company’s stock valued at $98,000 after purchasing an additional 2,441 shares in the last quarter.

SMART Global Stock Down 3.2 %

Shares of SMART Global stock opened at $23.50 on Monday. The company has a market cap of $1.18 billion, a P/E ratio of -42.73 and a beta of 1.46. SMART Global Holdings, Inc. has a 1 year low of $12.04 and a 1 year 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. The stock has a 50-day moving average price of $25.42 and a 200 day moving average price of $21.64.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.26. SMART Global had a positive return on equity of 32.78% and a negative net margin of 1.56%. The company had revenue of $383.33 million during the quarter, compared to the consensus estimate of $375.08 million. During the same period last year, the business earned $0.72 EPS. The business’s quarterly revenue was down 17.1% on a year-over-year basis. As a group, analysts expect that SMART Global Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sandeep Nayyar sold 12,356 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was 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 $817,235.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sandeep Nayyar sold 12,356 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $27.39, for a total value of $338,430.84. Following the completion of the transaction, the director now directly owns 29,837 shares of the company’s stock, valued at $817,235.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Gates Clark sold 2,519 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $27.36, for a total transaction of $68,919.84. Following the transaction, the insider now directly owns 92,754 shares of the company’s stock, valued at $2,537,749.44. The disclosure for this sale can be found here. Insiders sold a total of 49,566 shares of company stock valued at $1,308,045 in the last quarter. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

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

SMART Global Profile

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.