American Century Companies Inc. Acquires 328,934 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

American Century Companies Inc. grew its stake in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 69.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 802,527 shares of the company’s stock after buying an additional 328,934 shares during the quarter. American Century Companies Inc. owned 1.52% of SMART Global worth $18,354,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. UBS Group AG raised its holdings in SMART Global by 7,076.7% during the 4th 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 last quarter. Vanguard Group Inc. increased its position in shares of SMART Global by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after acquiring an additional 810,022 shares during the period. Hennessy Advisors Inc. bought a new position in shares of SMART Global during the second quarter valued at about $9,205,000. 1492 Capital Management LLC purchased a new stake in shares of SMART Global during the fourth quarter worth about $4,153,000. Finally, Russell Investments Group Ltd. grew its stake in shares of SMART Global by 331.9% in the first quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock worth $6,836,000 after purchasing an additional 199,585 shares during the last quarter.

Insider Activity

In other news, insider Joseph Gates Clark sold 5,000 shares of SMART Global stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now directly owns 87,386 shares in the company, valued at $2,534,194. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jack A. Pacheco sold 13,333 shares of SMART Global stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.14, for a total transaction of $281,859.62. Following the completion of the transaction, the chief operating officer now directly owns 211,896 shares in the company, valued at $4,479,481.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Gates Clark sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 87,386 shares of the company’s stock, valued at $2,534,194. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,193 shares of company stock worth $795,466. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

SGH has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Rosenblatt Securities restated a “buy” rating and set a $35.00 target price on shares of SMART Global in a report on Wednesday, July 3rd. Stifel Nicolaus lifted their price target on shares of SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays upped their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, SMART Global has a consensus rating of “Buy” and an average target price of $32.25.

SMART Global Stock Performance

SMART Global stock opened at $19.70 on Friday. The stock’s 50 day simple moving average is $21.00 and its two-hundred day simple moving average is $21.66. 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 has a market cap of $1.04 billion, a price-to-earnings ratio of -6.40 and a beta of 1.67. SMART Global Holdings, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $29.81.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $300.58 million for the quarter, compared to analysts’ expectations of $300.00 million. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The business’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. As a group, analysts expect that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current fiscal year.

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.