Allspring Global Investments Holdings LLC Purchases 26,830 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

Allspring Global Investments Holdings LLC boosted its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGHFree Report) by 813.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,127 shares of the company’s stock after purchasing an additional 26,830 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of SMART Global worth $793,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in SMART Global by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after buying an additional 469 shares during the period. TFO Wealth Partners LLC boosted its position in SMART Global by 32,469.2% in the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock valued at $80,000 after buying an additional 4,221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SMART Global by 48.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company’s stock valued at $245,000 after buying an additional 4,253 shares during the period. Raymond James & Associates boosted its position in SMART Global by 19.0% in the 4th quarter. Raymond James & Associates now owns 14,683 shares of the company’s stock valued at $278,000 after buying an additional 2,340 shares during the period. Finally, Griffin Asset Management Inc. purchased a new stake in SMART Global in the 1st quarter valued at about $279,000.

Insider Buying and Selling at SMART Global

In related news, CEO Mark Adams purchased 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the purchase, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other SMART Global news, CEO Mark Adams bought 10,000 shares of SMART Global stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,640 shares in the company, valued at approximately $556,935.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research report on Wednesday, July 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.50 price target on shares of SMART Global in a research report on Wednesday, July 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price target on shares of SMART Global in a research report on Tuesday, May 7th.

View Our Latest Research Report on SMART Global

SMART Global Trading Up 3.2 %

NASDAQ:SGH opened at $23.96 on Tuesday. SMART Global Holdings, Inc. has a 52 week low of $12.66 and a 52 week high of $27.88. The firm has a 50 day moving average of $21.09 and a 200 day moving average of $21.33. 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 stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.51 and a beta of 1.69.

SMART Global (NASDAQ:SGHGet Free Report) last issued its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The company had revenue of $284.82 million for the quarter, compared to analyst estimates of $285.18 million. As a group, sell-side analysts anticipate that SMART Global Holdings, Inc. will post 0.59 earnings per share for the current fiscal year.

About SMART Global

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SGH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SMART Global Holdings, Inc. (NASDAQ:SGHFree Report).

Institutional Ownership by Quarter for SMART Global (NASDAQ:SGH)

Receive News & Ratings for SMART Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SMART Global and related companies with MarketBeat.com's FREE daily email newsletter.