SMART Global (NASDAQ:SGH) Receives “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of SMART Global (NASDAQ:SGH) in a research report report published on Wednesday, Benzinga reports. Stifel Nicolaus currently has a $27.50 price target on the stock.

SGH has been the topic of a number of other research reports. Rosenblatt Securities restated a buy rating and issued a $35.00 target price on shares of SMART Global in a report on Wednesday. Needham & Company LLC restated a buy rating and issued a $27.00 target price on shares of SMART Global in a report on Tuesday, May 7th.

SMART Global Stock Up 0.7 %

Shares of NASDAQ:SGH opened at $23.10 on Wednesday. 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 52-week low of $12.66 and a 52-week high of $28.18. The business’s 50 day simple moving average is $20.80 and its two-hundred day simple moving average is $21.20. The firm has a market cap of $1.21 billion, a P/E ratio of -6.28 and a beta of 1.69.

SMART Global (NASDAQ:SGH) last issued its 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). The firm had revenue of $284.82 million during the quarter, compared to the consensus estimate of $285.18 million. SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. As a group, research analysts forecast that SMART Global will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

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 transaction of $45,370.26. Following the completion of the sale, the insider now directly owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction dated 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 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 through 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, for a total transaction of $187,900.00. Following the transaction, 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 insiders.

Hedge Funds Weigh In On SMART Global

Several institutional investors and hedge funds have recently bought and sold shares of SGH. GAMMA Investing LLC grew its stake in shares of SMART Global by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after acquiring an additional 469 shares during the period. TFO Wealth Partners LLC boosted its position in SMART Global by 32,469.2% during the fourth quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after purchasing an additional 4,221 shares during the period. Mutual of America Capital Management LLC bought a new position in SMART Global during the first quarter worth about $235,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SMART Global by 48.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company’s stock worth $245,000 after purchasing an additional 4,253 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of SMART Global in the first quarter valued at approximately $274,000.

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.