Laurion Capital Management LP Purchases Shares of 43,995 Smart Global Holdings Inc (SGH)

Laurion Capital Management LP purchased a new position in shares of Smart Global Holdings Inc (NASDAQ:SGH) during the 1st quarter, Holdings Channel reports. The fund purchased 43,995 shares of the company’s stock, valued at approximately $845,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of Smart Global by 18.8% in the third quarter. Bank of New York Mellon Corp now owns 36,432 shares of the company’s stock worth $1,047,000 after buying an additional 5,765 shares during the period. BlackRock Inc. raised its holdings in shares of Smart Global by 4.5% in the third quarter. BlackRock Inc. now owns 699,677 shares of the company’s stock worth $20,111,000 after buying an additional 30,295 shares during the period. Vanguard Group Inc. raised its holdings in shares of Smart Global by 33.4% in the third quarter. Vanguard Group Inc. now owns 1,667,132 shares of the company’s stock worth $47,913,000 after buying an additional 417,170 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Smart Global in the fourth quarter worth approximately $123,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Smart Global by 34.6% in the fourth quarter. Meeder Asset Management Inc. now owns 3,609 shares of the company’s stock worth $107,000 after buying an additional 927 shares during the period.

SGH opened at $17.58 on Friday. The firm has a market cap of $429.89 million, a price-to-earnings ratio of 2.93, a PEG ratio of 0.41 and a beta of 0.35. Smart Global Holdings Inc has a 52 week low of $17.22 and a 52 week high of $51.63. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.78.

Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, March 28th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.12). The firm had revenue of $304.10 million for 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%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, equities research analysts forecast that Smart Global Holdings Inc will post 3.03 EPS for the current fiscal year.

Several brokerages have recently weighed in on SGH. BidaskClub downgraded Smart Global from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. TheStreet downgraded Smart Global from a “c-” rating to a “d+” rating in a report on Tuesday, April 30th. Zacks Investment Research downgraded Smart Global from a “hold” rating to a “strong sell” rating in a report on Thursday, April 4th. Roth Capital reduced their price objective on Smart Global from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 29th. Finally, Deutsche Bank reduced their price objective on Smart Global from $38.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, March 29th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.00.

In other Smart Global news, Director Iain Mackenzie sold 10,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.95, for a total transaction of $239,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bruce M. Goldberg sold 2,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.04, for a total value of $50,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,381 shares of company stock worth $590,727 in the last ninety days. Insiders own 4.20% of the company’s stock.

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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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Institutional Ownership by Quarter for Smart Global (NASDAQ:SGH)

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