Smart Global Holdings Inc (NYSE:SGH)‘s stock had its “buy” rating reissued by analysts at Roth Capital in a research report issued to clients and investors on Friday. They currently have a $30.00 price target on the stock, up from their previous price target of $24.00. Roth Capital’s price target points to a potential upside of 33.63% from the company’s previous close.

SGH has been the subject of several other research reports. Zacks Investment Research lowered Smart Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Barclays PLC began coverage on Smart Global Holdings in a research report on Monday, June 19th. They set an “overweight” rating and a $19.00 price objective for the company. Jefferies Group LLC began coverage on Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $21.00 price objective for the company. Deutsche Bank AG began coverage on Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus began coverage on Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $27.00 price objective for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $22.83.

Shares of Smart Global Holdings (SGH) traded down 1.10% during mid-day trading on Friday, reaching $22.45. 275,613 shares of the company’s stock were exchanged. The firm has a market capitalization of $486.65 million and a P/E ratio of 320.71. The stock has a 50-day moving average of $18.77 and a 200 day moving average of $16.83. Smart Global Holdings has a one year low of $11.50 and a one year high of $24.01.

Smart Global Holdings (NYSE:SGH) last announced its quarterly earnings data on Thursday, June 22nd. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by $0.01. The firm had revenue of $206.97 million for the quarter, compared to analysts’ expectations of $202.87 million. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. Smart Global Holdings’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, analysts forecast that Smart Global Holdings will post $1.63 EPS for the current fiscal year.

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Several large investors have recently modified their holdings of SGH. Stifel Financial Corp bought a new position in shares of Smart Global Holdings during the second quarter valued at $169,000. Spark Investment Management LLC bought a new position in shares of Smart Global Holdings during the second quarter valued at $184,000. Laurion Capital Management LP bought a new position in shares of Smart Global Holdings during the second quarter valued at $324,000. Goldman Sachs Group Inc. bought a new position in shares of Smart Global Holdings during the second quarter valued at $429,000. Finally, Symphony Asset Management LLC bought a new position in shares of Smart Global Holdings during the second quarter valued at $1,286,000.

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.

Analyst Recommendations for Smart Global Holdings (NYSE:SGH)

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