Joseph Gates Clark Sells 2,529 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the transaction, the insider now owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SMART Global Price Performance

Shares of NASDAQ SGH opened at $18.34 on Friday. SMART Global Holdings, Inc. has a 12-month low of $12.66 and a 12-month high of $29.99. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The stock has a 50 day simple moving average of $22.31 and a 200-day simple moving average of $19.60.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 target price on shares of SMART Global in a research note on Monday, April 22nd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGH. Allspring Global Investments Holdings LLC raised its stake in shares of SMART Global by 813.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 30,127 shares of the company’s stock valued at $793,000 after purchasing an additional 26,830 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of SMART Global in the 1st quarter worth approximately $279,000. GAMMA Investing LLC boosted its holdings in shares of SMART Global by 42.9% in the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after acquiring an additional 469 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of SMART Global during the first quarter valued at approximately $896,000. Finally, Nomura Holdings Inc. raised its holdings in SMART Global by 41.1% during the fourth quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock worth $4,442,000 after purchasing an additional 68,315 shares in the last quarter.

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.