Louisiana State Employees Retirement System Acquires New Shares in SMART Global Holdings, Inc. (NASDAQ:SGH)

Louisiana State Employees Retirement System bought a new position in SMART Global Holdings, Inc. (NASDAQ:SGH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,000 shares of the company’s stock, valued at approximately $492,000.

Several other hedge funds have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. increased its holdings in SMART Global by 85.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company’s stock worth $93,000 after buying an additional 1,757 shares in the last quarter. Strs Ohio bought a new stake in shares of SMART Global in the third quarter worth approximately $749,000. Inspire Investing LLC raised its holdings in shares of SMART Global by 17.7% during the third quarter. Inspire Investing LLC now owns 41,807 shares of the company’s stock valued at $1,018,000 after purchasing an additional 6,289 shares during the last quarter. Victory Capital Management Inc. lifted its position in SMART Global by 36.5% during the third quarter. Victory Capital Management Inc. now owns 87,469 shares of the company’s stock valued at $2,130,000 after purchasing an additional 23,372 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in SMART Global in the third quarter worth approximately $702,000.

Insider Transactions at SMART Global

In related news, Director Penny Herscher sold 2,525 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the transaction, the director now directly owns 12,713 shares of the company’s stock, valued at $287,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Penny Herscher sold 2,525 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the transaction, the director now directly owns 12,713 shares of the company’s stock, valued at $287,568.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Adams purchased 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $18.79 per share, with a total value of $187,900.00. Following the acquisition, the chief executive officer now directly owns 29,640 shares in the company, valued at $556,935.60. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

SGH has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price target on shares of SMART Global in a research note on Monday, April 22nd.

SMART Global Trading Up 1.1 %

Shares of SGH opened at $18.55 on Tuesday. The firm has a market cap of $970.11 million, a P/E ratio of -5.04 and a beta of 1.74. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. SMART Global Holdings, Inc. has a 1 year low of $12.66 and a 1 year high of $29.99. The company has a 50 day simple moving average of $22.27 and a two-hundred day simple moving average of $19.50.

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.