Insider Selling: SMART Global Holdings, Inc. (NASDAQ:SGH) COO Sells 13,334 Shares of Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $20.02, for a total transaction of $266,946.68. Following the completion of the transaction, the chief operating officer now owns 211,896 shares in the company, valued at approximately $4,242,157.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SMART Global Price Performance

SMART Global stock traded up $0.46 during mid-day trading on Tuesday, hitting $19.81. The stock had a trading volume of 1,249,596 shares, compared to its average volume of 1,072,842. 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 firm’s 50 day moving average is $20.80 and its 200 day moving average is $21.60. The firm has a market capitalization of $1.05 billion, a P/E ratio of -6.28 and a beta of 1.67. SMART Global Holdings, Inc. has a one year low of $12.66 and a one year high of $29.81.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On SMART Global

Several hedge funds have recently modified their holdings of SGH. Russell Investments Group Ltd. lifted its position 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 buying an additional 199,585 shares in the last quarter. Nomura Holdings Inc. raised its holdings in shares of SMART Global by 41.1% during the 4th quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock worth $4,442,000 after acquiring an additional 68,315 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of SMART Global by 35.6% during the 1st quarter. First Eagle Investment Management LLC now owns 411,044 shares of the company’s stock valued at $10,819,000 after acquiring an additional 107,850 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of SMART Global by 120.0% in the first quarter. Inspire Investing LLC now owns 49,151 shares of the company’s stock valued at $1,294,000 after purchasing an additional 26,807 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in SMART Global by 17.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 393,596 shares of the company’s stock worth $10,359,000 after purchasing an additional 59,674 shares during the last quarter.

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.