Cubist Systematic Strategies LLC Reduces Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Cubist Systematic Strategies LLC lowered its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 95.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,554 shares of the company’s stock after selling 234,000 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in SMART Global were worth $241,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of SMART Global by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after purchasing an additional 810,022 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of SMART Global during the 2nd quarter worth approximately $9,205,000. American Century Companies Inc. raised its stake in shares of SMART Global by 69.5% during the 2nd quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock worth $18,354,000 after acquiring an additional 328,934 shares in the last quarter. Russell Investments Group Ltd. lifted its position in SMART Global by 331.9% during the first quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock valued at $6,836,000 after acquiring an additional 199,585 shares during the last quarter. Finally, Boston Partners acquired a new stake in SMART Global in the first quarter valued at approximately $5,198,000.

SMART Global Stock Up 0.4 %

Shares of SGH stock opened at $20.85 on Tuesday. The firm has a market capitalization of $1.10 billion, a PE ratio of -6.77 and a beta of 1.67. SMART Global Holdings, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $29.81. The stock’s 50-day simple moving average is $19.99 and its 200-day simple moving average is $21.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30.

Insider Buying and Selling at SMART Global

In other news, insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total value of $59,814.09. Following the completion of the transaction, the insider now owns 82,518 shares of the company’s stock, valued at $1,953,201.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total value of $59,814.09. Following the completion of the sale, the insider now directly owns 82,518 shares in the company, valued at $1,953,201.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jack A. Pacheco sold 13,334 shares of SMART Global stock in a transaction on Friday, September 20th. The shares were sold at an average price of $20.02, for a total transaction of $266,946.68. Following the completion of the sale, the chief operating officer now directly owns 211,896 shares in the company, valued at $4,242,157.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,527 shares of company stock valued at $917,413. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.