Roth Capital Raises Smart Global (NASDAQ:SGH) Price Target to $40.00

Smart Global (NASDAQ:SGH) had its price target upped by Roth Capital from $30.00 to $40.00 in a research note issued to investors on Friday, The Fly reports. Roth Capital currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on SGH. Barclays raised their target price on shares of Smart Global from $24.00 to $30.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Deutsche Bank raised their target price on shares of Welltower from $61.00 to $71.00 and gave the company a hold rating in a research note on Friday, March 29th. TheStreet lowered shares of UDR from a b rating to a c rating in a research report on Tuesday, April 30th. Needham & Company LLC lowered their price objective on shares of to $10.00 and set a buy rating for the company in a research report on Wednesday, July 10th. Finally, Zacks Investment Research upgraded shares of Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Smart Global currently has an average rating of Buy and an average price target of $37.00.

SGH opened at $31.28 on Friday. The stock has a market capitalization of $731.64 million, a PE ratio of 5.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.20. The company’s fifty day moving average is $23.30. Smart Global has a fifty-two week low of $16.94 and a fifty-two week high of $35.10. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78.

Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, June 27th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The company had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $264.98 million. Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The business’s revenue was down 29.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. On average, analysts anticipate that Smart Global will post 2.92 earnings per share for the current year.

In other Smart Global news, VP Bruce M. Goldberg sold 2,381 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.39, for a total transaction of $43,786.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Smart Global by 137.4% in the 4th quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock worth $49,339,000 after acquiring an additional 961,590 shares during the last quarter. FMR LLC bought a new stake in shares of Smart Global in the 1st quarter worth about $7,757,000. Kennedy Capital Management Inc. lifted its holdings in shares of Smart Global by 106.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock worth $8,738,000 after acquiring an additional 234,183 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Smart Global in the 1st quarter worth about $2,726,000. Finally, Deutsche Bank AG lifted its holdings in shares of Smart Global by 599.8% in the 4th quarter. Deutsche Bank AG now owns 139,881 shares of the company’s stock worth $4,153,000 after acquiring an additional 119,891 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

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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