SMART Global’s (SGH) “Buy” Rating Reiterated at Needham & Company LLC

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $27.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 41.21% from the company’s current price.

Separately, Stifel Nicolaus boosted their target price on SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a research report on Wednesday, April 10th.

SMART Global Trading Up 3.2 %

Shares of SGH opened at $19.12 on Tuesday. The stock has a market capitalization of $999.92 million, a PE ratio of -5.20 and a beta of 1.80. The company’s fifty day moving average is $22.00 and its 200 day moving average is $19.68. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. SMART Global has a fifty-two week low of $12.66 and a fifty-two week high of $29.99.

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

Insiders Place Their Bets

In related news, Director Penny Herscher sold 2,525 shares of the business’s stock in a transaction 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 owns 12,713 shares in the company, valued at approximately $287,568.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction dated 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 sale, the director now owns 12,713 shares in the company, valued at approximately $287,568.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Adams acquired 10,000 shares of the stock in a transaction on Thursday, April 11th. The stock was bought at an average cost of $18.79 per share, with a total value of $187,900.00. Following the completion of the transaction, the chief executive officer now owns 29,640 shares in the company, valued at $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SMART Global

A number of institutional investors and hedge funds have recently bought and sold shares of SGH. Vanguard Group Inc. increased its position in SMART Global by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after purchasing an additional 810,022 shares during the period. FMR LLC increased its position in shares of SMART Global by 66.3% during the third quarter. FMR LLC now owns 2,209,647 shares of the company’s stock worth $53,805,000 after purchasing an additional 880,971 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SMART Global by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock valued at $28,084,000 after purchasing an additional 37,256 shares during the last quarter. LSV Asset Management boosted its position in shares of SMART Global by 26.3% in the 1st quarter. LSV Asset Management now owns 874,300 shares of the company’s stock worth $23,012,000 after purchasing an additional 182,200 shares in the last quarter. Finally, UBS Group AG grew its stake in SMART Global by 7,076.7% during the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after buying an additional 850,764 shares during 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.