Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in SMART Global Holdings, Inc. (NASDAQ:SGH)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 48.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,963 shares of the company’s stock after acquiring an additional 4,253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SMART Global were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SGH. Strs Ohio acquired a new position in SMART Global in the third quarter valued at $749,000. Inspire Investing LLC lifted its holdings in shares of SMART Global by 17.7% during the 3rd quarter. Inspire Investing LLC now owns 41,807 shares of the company’s stock worth $1,018,000 after acquiring an additional 6,289 shares during the period. Victory Capital Management Inc. boosted its position in shares of SMART Global by 36.5% in the third quarter. Victory Capital Management Inc. now owns 87,469 shares of the company’s stock worth $2,130,000 after acquiring an additional 23,372 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in SMART Global in the third quarter valued at approximately $702,000. Finally, Barclays PLC increased its position in SMART Global by 17.2% during the third quarter. Barclays PLC now owns 267,639 shares of the company’s stock worth $6,516,000 after purchasing an additional 39,264 shares during the last quarter.

SMART Global Stock Performance

Shares of SGH opened at $18.58 on Tuesday. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.99. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. The firm has a market cap of $971.73 million, a price-to-earnings ratio of -5.05 and a beta of 1.80. The business’s 50 day moving average is $22.08 and its two-hundred day moving average is $19.65.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $284.82 million during the quarter, compared to analyst estimates of $285.18 million. SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. Analysts forecast that SMART Global Holdings, Inc. will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of SMART Global in a research report on Monday, April 22nd.

Insider Transactions at SMART Global

In related news, Director Penny Herscher sold 2,525 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the sale, 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 can be accessed through this link. In other SMART Global news, CEO Mark Adams acquired 10,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average price of $18.79 per share, with a total value of $187,900.00. Following the transaction, the chief executive officer now directly owns 29,640 shares in the company, valued at $556,935.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Penny Herscher sold 2,525 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $287,568.06. The disclosure for this sale can be found here. Corporate insiders own 2.30% 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.