State of Alaska Department of Revenue Has $604,000 Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

State of Alaska Department of Revenue increased its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,940 shares of the company’s stock after purchasing an additional 767 shares during the quarter. State of Alaska Department of Revenue’s holdings in SMART Global were worth $604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SGH. Vanguard Group Inc. increased its position in SMART Global by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,024,986 shares of the company’s stock worth $146,708,000 after buying an additional 603,294 shares during the period. State Street Corp increased its position in SMART Global by 13.7% in the 1st quarter. State Street Corp now owns 2,966,663 shares of the company’s stock worth $51,145,000 after buying an additional 356,735 shares during the period. FMR LLC increased its position in SMART Global by 66.3% in the 3rd quarter. FMR LLC now owns 2,209,647 shares of the company’s stock worth $53,805,000 after buying an additional 880,971 shares during the period. Clearbridge Investments LLC increased its position in SMART Global by 323.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,563,323 shares of the company’s stock worth $40,381,000 after buying an additional 1,194,012 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in SMART Global by 93.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,369,486 shares of the company’s stock worth $35,375,000 after buying an additional 662,841 shares during the period.

SMART Global Stock Performance

Shares of NASDAQ SGH opened at $19.44 on Friday. The business has a fifty day simple moving average of $22.99 and a 200 day simple moving average of $20.05. The company has a current ratio of 2.68, a quick ratio of 2.11 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.90 and a beta of 1.74. SMART Global Holdings, Inc. has a one year low of $12.66 and a one year high of $29.99.

SMART Global (NASDAQ:SGH) last issued its earnings results on Tuesday, January 9th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $274.25 million during the quarter, compared to analyst estimates of $275.00 million. SMART Global had a positive return on equity of 20.15% and a negative net margin of 15.14%. SMART Global’s revenue was down 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Sell-side analysts expect that SMART Global Holdings, Inc. will post 0.62 EPS for the current year.

Insider Activity at SMART Global

In other news, CEO Mark Adams bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the purchase, the chief executive officer now owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mark Adams acquired 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the purchase, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Penny Herscher sold 2,525 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the transaction, the director now owns 12,713 shares of the company’s stock, valued at $287,568.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,428 shares of company stock worth $167,147. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus lifted their price target on SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC lifted their price target on SMART Global from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday.

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.