LPL Financial LLC Sells 3,682 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

LPL Financial LLC trimmed its holdings in SMART Global Holdings, Inc. (NASDAQ:SGH) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,059 shares of the company’s stock after selling 3,682 shares during the quarter. LPL Financial LLC owned about 0.08% of SMART Global worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake 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 purchasing an additional 641 shares during the period. Point72 Middle East FZE acquired a new position in shares of SMART Global in the 4th quarter valued at about $32,000. Captrust Financial Advisors raised its stake in SMART Global by 42.2% during the 2nd quarter. Captrust Financial Advisors now owns 2,849 shares of the company’s stock worth $47,000 after buying an additional 846 shares during the period. Tower Research Capital LLC TRC raised its stake in SMART Global by 93.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,434 shares of the company’s stock worth $55,000 after buying an additional 1,662 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in SMART Global during the 2nd quarter worth approximately $64,000.

SMART Global Price Performance

Shares of NASDAQ SGH opened at $16.41 on Friday. The stock has a fifty day simple moving average of $19.19 and a two-hundred day simple moving average of $22.31. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.99. The firm has a market cap of $852.01 million, a price-to-earnings ratio of -4.70 and a beta of 1.56. The company has a current ratio of 2.13, a quick ratio of 1.72 and a debt-to-equity ratio of 3.29.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, October 12th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.11). SMART Global had a negative net margin of 11.76% and a positive return on equity of 29.99%. The firm had revenue of $316.66 million for the quarter, compared to the consensus estimate of $375.03 million. During the same period last year, the company posted $0.63 earnings per share. SMART Global’s revenue for the quarter was down 27.7% on a year-over-year basis. Analysts anticipate that SMART Global Holdings, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

SGH has been the topic of a number of research reports. TheStreet downgraded SMART Global from a “b-” rating to a “c-” rating in a research note on Wednesday, November 1st. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research note on Thursday, October 19th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of SMART Global in a research note on Friday, October 13th. Finally, Stifel Nicolaus lowered their price objective on SMART Global from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SMART Global has an average rating of “Buy” and a consensus target price of $29.40.

Insider Buying and Selling

In related news, COO Jack A. Pacheco sold 2,500 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $23.57, for a total value of $58,925.00. Following the sale, the chief operating officer now owns 202,375 shares in the company, valued at $4,769,978.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Joseph Gates Clark sold 2,519 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $37,785.00. Following the transaction, the insider now directly owns 100,938 shares of the company’s stock, valued at $1,514,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jack A. Pacheco sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $23.57, for a total value of $58,925.00. Following the transaction, the chief operating officer now directly owns 202,375 shares in the company, valued at $4,769,978.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,519 shares of company stock worth $280,485. Corporate insiders own 3.70% of the company’s stock.

About SMART Global

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.