BidaskClub Lowers Smart Global (SGH) to Sell

BidaskClub cut shares of Smart Global (NASDAQ:SGH) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

SGH has been the subject of several other research reports. Barclays cut their price target on shares of Smart Global from $38.00 to $25.00 and set an overweight rating for the company in a report on Friday, March 29th. ValuEngine raised shares of Smart Global from a sell rating to a hold rating in a report on Friday, February 15th. Needham & Company LLC reissued a hold rating on shares of Smart Global in a report on Wednesday, January 16th. Zacks Investment Research raised shares of Smart Global from a sell rating to a hold rating in a report on Wednesday, March 13th. Finally, Deutsche Bank cut their price target on shares of Smart Global from $38.00 to $28.00 and set a buy rating for the company in a report on Friday, March 29th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Smart Global presently has an average rating of Hold and a consensus target price of $40.00.

NASDAQ:SGH opened at $19.76 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.78. The company has a market cap of $444.79 million, a PE ratio of 3.29, a PEG ratio of 0.43 and a beta of 0.35. Smart Global has a 1-year low of $18.27 and a 1-year high of $51.63.

Smart Global (NASDAQ:SGH) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $317.27 million. Smart Global had a return on equity of 61.87% and a net margin of 7.49%. Smart Global’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 EPS. Analysts expect that Smart Global will post 3.03 earnings per share for the current fiscal year.

In other news, Director Iain Mackenzie sold 10,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $28.78, for a total transaction of $287,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bruce M. Goldberg sold 2,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.13, for a total transaction of $44,260.00. The disclosure for this sale can be found here. Insiders have sold 35,957 shares of company stock valued at $894,839 in the last ninety days. Insiders own 4.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Neuburgh Advisers LLC purchased a new stake in shares of Smart Global during the first quarter worth $44,000. BNP Paribas Arbitrage SA acquired a new position in shares of Smart Global during the 1st quarter valued at about $47,000. PNC Financial Services Group Inc. boosted its position in shares of Smart Global by 27.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,848 shares of the company’s stock valued at $55,000 after acquiring an additional 616 shares during the last quarter. Tyers Asset Management LLC acquired a new position in shares of Smart Global during the 1st quarter valued at about $55,000. Finally, NumerixS Investment Technologies Inc boosted its position in shares of Smart Global by 42.9% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the company’s stock valued at $59,000 after acquiring an additional 600 shares during the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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