Los Angeles Capital Management LLC Takes $896,000 Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Los Angeles Capital Management LLC bought a new stake in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 34,057 shares of the company’s stock, valued at approximately $896,000. Los Angeles Capital Management LLC owned about 0.07% of SMART Global as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of SGH. TFO Wealth Partners LLC grew 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 acquiring an additional 4,221 shares during the last quarter. Aigen Investment Management LP bought a new position in SMART Global in the 3rd quarter valued at $226,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 acquiring an additional 4,253 shares during the last quarter. Raymond James & Associates grew 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 acquiring an additional 2,340 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in SMART Global in the 3rd quarter valued at $284,000.

SMART Global Price Performance

Shares of NASDAQ SGH opened at $22.42 on Tuesday. 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 Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.99. The business has a fifty day moving average price of $20.11 and a 200 day moving average price of $20.99.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data 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). The company had revenue of $284.82 million for the quarter, compared to analysts’ expectations of $285.18 million. SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. Research analysts anticipate that SMART Global Holdings, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SGH shares. Stifel Nicolaus upped their target price on SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 target price on shares of SMART Global in a report on Tuesday, May 7th.

Insider Buying and Selling

In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the sale, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the sale, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Adams purchased 10,000 shares of the firm’s stock in a transaction 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 completion of the purchase, the chief executive officer now owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

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.