SMART Global Holdings, Inc. (NASDAQ:SGH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 66.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,947 shares of the company’s stock after selling 21,341 shares during the quarter. Victory Capital Management Inc.’s holdings in SMART Global were worth $250,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 30,344 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SMART Global by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock valued at $28,084,000 after buying an additional 37,256 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of SMART Global by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 270,169 shares of the company’s stock worth $5,114,000 after buying an additional 838 shares during the period. UBS Group AG grew its holdings in SMART Global by 7,076.7% in the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after buying an additional 850,764 shares in the last quarter. Finally, 1492 Capital Management LLC acquired a new stake in SMART Global in the 4th quarter valued at approximately $4,153,000.

SMART Global Price Performance

Shares of SMART Global stock opened at $19.35 on Tuesday. SMART Global Holdings, Inc. has a 52 week low of $12.66 and a 52 week high of $29.81. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The company’s 50-day moving average price is $20.80 and its two-hundred day moving average price is $21.60. The stock has a market cap of $1.02 billion, a PE ratio of -6.28 and a beta of 1.67.

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

Insider Buying and Selling

In other news, COO Jack A. Pacheco sold 13,333 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.14, for a total transaction of $281,859.62. Following the completion of the sale, the chief operating officer now directly owns 211,896 shares of the company’s stock, valued at $4,479,481.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Jack A. Pacheco sold 13,333 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.14, for a total value of $281,859.62. Following the completion of the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,479,481.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $23.67, for a total transaction of $59,814.09. Following the sale, the insider now directly owns 82,518 shares in the company, valued at $1,953,201.06. The disclosure for this sale can be found here. Insiders have sold 34,193 shares of company stock worth $795,466 in the last three months. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SGH. Barclays increased their price target on SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Needham & Company LLC raised their target price on shares of SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price target on shares of SMART Global in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus raised their price objective on shares of SMART Global from $27.50 to $32.00 and gave the company 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.com, SMART Global presently has a consensus rating of “Buy” and a consensus price target 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.