Bank of New York Mellon Corp Has $11.50 Million Stock Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Bank of New York Mellon Corp increased its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 396,528 shares of the company’s stock after purchasing an additional 6,068 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.79% of SMART Global worth $11,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nkcfo LLC acquired a new position in SMART Global in the second quarter worth about $464,000. Bank of Montreal Can bought a new stake in SMART Global in the second quarter valued at $8,066,000. LSV Asset Management raised its stake in SMART Global by 18.3% during the second quarter. LSV Asset Management now owns 863,500 shares of the company’s stock worth $25,050,000 after acquiring an additional 133,700 shares in the last quarter. Arizona State Retirement System increased its position in shares of SMART Global by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 13,783 shares of the company’s stock worth $400,000 after purchasing an additional 399 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of SMART Global by 91.9% during the second quarter. Inspire Investing LLC now owns 35,518 shares of the company’s stock worth $1,030,000 after buying an additional 17,005 shares in the last quarter.

SMART Global Trading Down 0.3 %

SGH stock opened at $16.41 on Friday. The company has a market cap of $852.01 million, a P/E ratio of -4.70 and a beta of 1.56. SMART Global Holdings, Inc. has a twelve month low of $12.66 and a twelve month high of $29.99. The company has a quick ratio of 1.72, a current ratio of 2.13 and a debt-to-equity ratio of 3.29. The business has a fifty day moving average of $19.19 and a 200-day moving average of $22.31.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, October 12th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). SMART Global had a positive return on equity of 29.99% and a negative net margin of 11.76%. The business had revenue of $316.66 million for the quarter, compared to analyst estimates of $375.03 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down 27.7% compared to the same quarter last year. As a group, equities research analysts expect that SMART Global Holdings, Inc. will post 0.4 EPS for the current year.

Insider Transactions at SMART Global

In other news, insider Joseph Gates Clark sold 2,519 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $15.00, for a total value of $37,785.00. Following the transaction, the insider now directly owns 100,938 shares in the company, valued at approximately $1,514,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph Gates Clark sold 2,519 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $15.00, for a total value of $37,785.00. Following the sale, the insider now directly owns 100,938 shares in the company, valued at approximately $1,514,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jack A. Pacheco sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $25.07, for a total transaction of $125,350.00. Following the completion of the sale, the chief operating officer now owns 202,375 shares in the company, valued at $5,073,541.25. The disclosure for this sale can be found here. Insiders have sold 12,519 shares of company stock worth $280,485 in the last three months. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SGH shares. Stifel Nicolaus reduced their price objective on SMART Global from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Rosenblatt Securities restated a “buy” rating and set a $35.00 target price on shares of SMART Global in a report on Thursday, October 19th. TheStreet cut SMART Global from a “b-” rating to a “c-” rating in a report on Wednesday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of SMART Global in a research report on Friday, October 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, SMART Global has an average rating of “Buy” and a consensus target price of $29.40.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.