Point72 Asset Management L.P. Takes $366,000 Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Point72 Asset Management L.P. acquired a new position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,000 shares of the company’s stock, valued at approximately $366,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of SMART Global by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock worth $185,246,000 after buying an additional 203,197 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of SMART Global by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,665,769 shares of the company’s stock worth $38,096,000 after purchasing an additional 186,958 shares in the last quarter. LSV Asset Management grew its stake in shares of SMART Global by 0.8% in the 2nd quarter. LSV Asset Management now owns 881,200 shares of the company’s stock valued at $20,153,000 after buying an additional 6,900 shares during the period. American Century Companies Inc. increased its position in SMART Global by 69.5% in the 2nd quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock valued at $18,354,000 after buying an additional 328,934 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in SMART Global by 33.3% during the 1st quarter. Kennedy Capital Management LLC now owns 480,037 shares of the company’s stock worth $12,635,000 after buying an additional 120,033 shares during the period.

Insiders Place Their Bets

In related news, COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,242,157.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $20.02, for a total value of $266,946.68. Following the sale, the chief operating officer now owns 211,896 shares in the company, valued at approximately $4,242,157.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 13,333 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.14, for a total value of $281,859.62. Following the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,479,481.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,527 shares of company stock worth $1,062,413 in the last quarter. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SGH shares. Needham & Company LLC boosted their price target 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. Barclays lifted 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. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus upped their price objective on shares of SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $32.25.

SMART Global Trading Up 3.0 %

NASDAQ:SGH opened at $20.60 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of -6.69 and a beta of 1.67. The firm’s 50 day moving average is $20.10 and its 200 day moving average is $21.46. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. SMART Global Holdings, Inc. has a 12 month low of $12.66 and a 12 month high of $29.81.

SMART Global (NASDAQ:SGH) last issued its earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $300.00 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Sell-side analysts expect that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current year.

SMART Global 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.