Dark Forest Capital Management LP Buys 843 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

Dark Forest Capital Management LP increased its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,103 shares of the company’s stock after purchasing an additional 843 shares during the period. Dark Forest Capital Management LP’s holdings in SMART Global were worth $391,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in SMART Global by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock valued at $185,246,000 after acquiring an additional 203,197 shares during the last quarter. Dimensional Fund Advisors LP grew its position in SMART Global by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,665,769 shares of the company’s stock valued at $38,096,000 after acquiring an additional 186,958 shares during the last quarter. LSV Asset Management grew its position in SMART Global by 0.8% during the second quarter. LSV Asset Management now owns 881,200 shares of the company’s stock valued at $20,153,000 after acquiring an additional 6,900 shares during the last quarter. American Century Companies Inc. grew its position in SMART Global by 69.5% during the second quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock valued at $18,354,000 after acquiring an additional 328,934 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in SMART Global by 33.3% during the first quarter. Kennedy Capital Management LLC now owns 480,037 shares of the company’s stock valued at $12,635,000 after acquiring an additional 120,033 shares during the last quarter.

SMART Global Stock Performance

Shares of SGH stock opened at $21.30 on Friday. The stock has a fifty day moving average of $20.42 and a 200 day moving average of $21.54. SMART Global Holdings, Inc. has a 52 week low of $12.66 and a 52 week high of $29.81. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.92 and a beta of 1.67. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The company had revenue of $300.58 million during the quarter, compared to analyst estimates of $300.00 million. During the same quarter last year, the firm posted $0.46 earnings per share. The firm’s revenue was down 12.7% on a year-over-year basis. As a group, research analysts expect that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SGH. Barclays raised their target price on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Needham & Company LLC raised their target price on shares of SMART Global from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Stifel Nicolaus raised their target price on shares of SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $32.25.

Insider Buying and Selling at SMART Global

In other SMART Global news, COO Jack A. Pacheco sold 13,333 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $23.16, for a total transaction of $308,792.28. Following the completion of the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at $4,907,511.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other SMART Global news, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $20.02, for a total transaction of $266,946.68. Following the completion of the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at $4,242,157.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jack A. Pacheco sold 13,333 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $23.16, for a total value of $308,792.28. Following the transaction, the chief operating officer now directly owns 211,896 shares of the company’s stock, valued at approximately $4,907,511.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,527 shares of company stock valued at $1,062,413. 2.30% of the stock is currently owned by company insiders.

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.