SMART Global (NASDAQ:SGH) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of SMART Global (NASDAQ:SGH) in a research note released on Wednesday, Benzinga reports. They currently have a $35.00 price target on the stock.

Several other analysts have also recently commented on SGH. Stifel Nicolaus boosted their price target on SMART Global from $26.00 to $27.50 and gave the stock a buy rating in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a buy rating and set a $27.00 target price on shares of SMART Global in a report on Tuesday, May 7th.

SMART Global Stock Performance

SGH opened at $23.10 on Wednesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -6.28 and a beta of 1.69. The firm’s fifty day simple moving average is $20.80 and its two-hundred day simple moving average is $21.20. 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 has a 52-week low of $12.66 and a 52-week high of $28.18.

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

Insider Buying and Selling

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

Institutional Trading of SMART Global

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in SMART Global by 4.6% during the third quarter. Invesco Ltd. now owns 414,990 shares of the company’s stock worth $10,105,000 after purchasing an additional 18,068 shares in the last quarter. Gotham Asset Management LLC lifted its stake in SMART Global by 239.6% during the 3rd quarter. Gotham Asset Management LLC now owns 51,766 shares of the company’s stock worth $1,261,000 after acquiring an additional 36,522 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in SMART Global by 0.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 832,795 shares of the company’s stock valued at $20,279,000 after acquiring an additional 6,098 shares during the period. Graham Capital Management L.P. acquired a new position in SMART Global in the 3rd quarter valued at about $284,000. Finally, Deutsche Bank AG increased its stake in SMART Global by 46.3% during the third quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after purchasing an additional 152,918 shares during the period.

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.