Smart Global Holdings Inc (NASDAQ:SGH) Given Average Rating of “Buy” by Analysts

Smart Global Holdings Inc (NASDAQ:SGH) has earned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $37.60.

Several research analysts have weighed in on SGH shares. Roth Capital upped their price target on Smart Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research downgraded Smart Global from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. ValuEngine upgraded Smart Global from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Needham & Company LLC upped their price target on Smart Global to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, TheStreet upgraded Smart Global from a “d+” rating to a “c” rating in a research note on Monday, July 29th.

In other news, SVP Kiwan Kim sold 7,084 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $31.77, for a total transaction of $225,058.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bruce M. Goldberg sold 2,267 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $31.75, for a total value of $71,977.25. The disclosure for this sale can be found here. Insiders have sold a total of 11,732 shares of company stock valued at $340,823 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA bought a new position in shares of Smart Global during the 1st quarter valued at approximately $47,000. Aperio Group LLC purchased a new stake in Smart Global during the 2nd quarter valued at $93,000. First Quadrant L P CA purchased a new stake in Smart Global during the 1st quarter valued at $83,000. Meeder Asset Management Inc. raised its holdings in Smart Global by 54.0% during the 1st quarter. Meeder Asset Management Inc. now owns 5,557 shares of the company’s stock valued at $108,000 after buying an additional 1,948 shares during the period. Finally, NumerixS Investment Technologies Inc raised its holdings in Smart Global by 268.6% during the 1st quarter. NumerixS Investment Technologies Inc now owns 7,372 shares of the company’s stock valued at $176,000 after buying an additional 5,372 shares during the period. Hedge funds and other institutional investors own 97.10% of the company’s stock.

Smart Global stock traded up $0.04 during midday trading on Friday, hitting $29.44. The stock had a trading volume of 309,763 shares, compared to its average volume of 433,224. Smart Global has a 52-week low of $16.94 and a 52-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. The stock has a market capitalization of $702.59 million, a P/E ratio of 4.91, a PEG ratio of 0.69 and a beta of 1.23. The stock has a fifty day moving average of $26.17.

Smart Global (NASDAQ:SGH) last posted its quarterly 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). Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $264.98 million. During the same quarter in the previous year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was down 29.7% compared to the same quarter last year. On average, equities research analysts anticipate that Smart Global will post 2.92 EPS for the current year.

About Smart Global

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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