Inspire Investing LLC Has $1.19 Million Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Inspire Investing LLC grew its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,053 shares of the company’s stock after purchasing an additional 2,902 shares during the quarter. Inspire Investing LLC owned approximately 0.10% of SMART Global worth $1,190,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of SMART Global by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 655,702 shares of the company’s stock worth $12,412,000 after purchasing an additional 30,344 shares during the period. Dimensional Fund Advisors LP lifted its holdings in SMART Global by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock worth $28,084,000 after buying an additional 37,256 shares during the period. Principal Financial Group Inc. grew its position in shares of SMART Global by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 270,169 shares of the company’s stock valued at $5,114,000 after buying an additional 838 shares during the last quarter. UBS Group AG increased its stake in shares of SMART Global by 7,076.7% in the fourth quarter. UBS Group AG now owns 862,786 shares of the company’s stock valued at $16,333,000 after buying an additional 850,764 shares during the period. Finally, 1492 Capital Management LLC bought a new position in shares of SMART Global during the fourth quarter worth about $4,153,000.

SMART Global Price Performance

SMART Global stock opened at $19.80 on Friday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.43 and a beta of 1.67. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. The stock’s 50 day moving average price is $21.19 and its two-hundred day moving average price is $21.68.

SMART Global (NASDAQ:SGH) last posted 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 negative net margin of 14.35% and a positive return on equity of 8.86%. The business had revenue of $300.58 million during the quarter, compared to analysts’ expectations of $300.00 million. During the same period last year, the company posted $0.46 earnings per share. The business’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities analysts predict that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SGH has been the topic of several analyst reports. Needham & Company LLC upped their target price on SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays upped their price objective on shares of SMART Global from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of SMART Global in a research report on Wednesday, July 3rd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.25.

Insider Activity at SMART Global

In other SMART Global news, insider Joseph Gates Clark sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $29.00, for a total value of $145,000.00. Following the transaction, the insider now owns 87,386 shares in the company, valued at $2,534,194. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Jack A. Pacheco sold 13,333 shares of SMART Global stock in a transaction dated Friday, July 26th. The shares were 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 directly owns 211,896 shares in the company, valued at $4,907,511.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Gates Clark sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 87,386 shares in the company, valued at approximately $2,534,194. The disclosure for this sale can be found here. Insiders sold 34,193 shares of company stock valued at $795,466 in the last three months. Corporate insiders own 2.30% of the company’s stock.

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.