Smart Global Holdings Inc (SGH) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Smart Global Holdings Inc (NYSE:SGH) have been assigned an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.83.
Several equities analysts recently commented on the stock. Barclays PLC assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They set an “overweight” rating and a $19.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They set a “buy” rating and a $27.00 target price for the company. Roth Capital assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They set a “buy” rating and a $24.00 target price for the company. Jefferies Group LLC reiterated a “buy” rating and set a $23.00 target price (up from $21.00) on shares of Smart Global Holdings in a research note on Sunday, June 25th. Finally, Needham & Company LLC assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They set a “strong-buy” rating and a $20.00 target price for the company.
In other Smart Global Holdings news, major shareholder Lake Sumeru (Offshore) Silver purchased 1,500,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $11.00 per share, with a total value of $16,500,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A hedge fund recently bought a new stake in Smart Global Holdings stock. Canada Pension Plan Investment Board bought a new position in Smart Global Holdings Inc (NYSE:SGH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 665,224 shares of the company’s stock, valued at approximately $10,231,000. Canada Pension Plan Investment Board owned 3.07% of Smart Global Holdings at the end of the most recent reporting period.
Shares of Smart Global Holdings (NYSE:SGH) traded down 0.93% on Tuesday, reaching $18.08. 22,139 shares of the company’s stock traded hands. The company’s 50-day moving average is $15.95 and its 200-day moving average is $15.53. The firm has a market capitalization of $391.92 million and a P/E ratio of 258.29. Smart Global Holdings has a 52 week low of $11.50 and a 52 week high of $19.27.
Smart Global Holdings (NYSE:SGH) last released its earnings results on Thursday, June 22nd. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The company had revenue of $206.97 million for the quarter, compared to analyst estimates of $202.87 million. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The company’s quarterly revenue was up 38.3% on a year-over-year basis. Equities research analysts anticipate that Smart Global Holdings will post $1.71 earnings per share for the current fiscal year.
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About Smart Global Holdings
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.
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