Roth Capital Trims Smart Global (SGH) Target Price to $30.00

Smart Global (NASDAQ:SGH) had its target price decreased by research analysts at Roth Capital from $40.00 to $30.00 in a research report issued on Friday, March 29th, The Fly reports. The brokerage presently has a “buy” rating on the stock. Roth Capital’s price objective indicates a potential upside of 34.89% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Deutsche Bank lowered their price objective on shares of Smart Global from $38.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, March 29th. Barclays lowered their price objective on shares of Smart Global from $38.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, March 29th. BidaskClub upgraded shares of Smart Global from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Smart Global from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Smart Global from $62.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Smart Global has a consensus rating of “Hold” and an average price target of $40.00.

SGH stock traded up $0.37 during mid-day trading on Friday, hitting $22.24. 401,646 shares of the company were exchanged, compared to its average volume of 829,512. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.39 and a current ratio of 1.92. The company has a market capitalization of $509.90 million, a P/E ratio of 3.71, a price-to-earnings-growth ratio of 0.49 and a beta of 0.26. Smart Global has a 1-year low of $18.27 and a 1-year high of $51.63.

Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, March 28th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.12). The company had revenue of $304.10 million for the quarter, compared to analyst estimates of $317.27 million. Smart Global had a return on equity of 61.87% and a net margin of 7.49%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.73 earnings per share. Analysts forecast that Smart Global will post 3.03 earnings per share for the current year.

In other news, VP Bruce M. Goldberg sold 1,957 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $30.71, for a total transaction of $60,099.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bruce M. Goldberg sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $24.26, for a total value of $53,372.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,032 shares of company stock valued at $1,070,876. Company insiders own 4.20% of the company’s stock.

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Smart Global by 265.6% during the fourth quarter. Rhumbline Advisers now owns 30,692 shares of the company’s stock worth $912,000 after purchasing an additional 22,296 shares during the period. Vanguard Group Inc raised its position in Smart Global by 33.4% in the 3rd quarter. Vanguard Group Inc now owns 1,667,132 shares of the company’s stock valued at $47,913,000 after buying an additional 417,170 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Smart Global in the 3rd quarter valued at $211,000. Bank of Montreal Can raised its position in Smart Global by 7,691.3% in the 4th quarter. Bank of Montreal Can now owns 5,376 shares of the company’s stock valued at $160,000 after buying an additional 5,307 shares during the last quarter. Finally, Boston Partners raised its position in Smart Global by 73.3% in the 4th quarter. Boston Partners now owns 630,483 shares of the company’s stock valued at $18,725,000 after buying an additional 266,631 shares during the last quarter. 99.44% of the stock is currently owned by institutional investors.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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