Smart Global Holdings Inc (NYSE:SGH) had its target price upped by research analysts at Needham & Company LLC from $33.00 to $40.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a “strong-buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 20.81% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Smart Global Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research report on Thursday, October 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Smart Global Holdings in a research report on Monday, October 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $28.50 target price (up previously from $23.00) on shares of Smart Global Holdings in a research report on Monday, October 2nd. Barclays PLC lifted their target price on shares of Smart Global Holdings from $19.00 to $28.00 and gave the stock a “positive” rating in a research report on Friday, September 29th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price (up previously from $27.00) on shares of Smart Global Holdings in a research report on Thursday, September 28th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Smart Global Holdings has a consensus rating of “Buy” and a consensus price target of $31.50.

Shares of Smart Global Holdings (NYSE:SGH) traded up 4.98% on Wednesday, hitting $34.76. 153,003 shares of the stock traded hands. The firm’s market cap is $745.05 million. The stock has a 50-day moving average price of $23.27 and a 200 day moving average price of $18.75. Smart Global Holdings has a 52 week low of $11.50 and a 52 week high of $34.83.

Smart Global Holdings (NYSE:SGH) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. The firm’s quarterly revenue was up 52.5% compared to the same quarter last year. Equities research analysts predict that Smart Global Holdings will post $3.12 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the stock. FMR LLC purchased a new position in Smart Global Holdings in the 2nd quarter worth $13,569,000. Canada Pension Plan Investment Board purchased a new position in Smart Global Holdings in the 2nd quarter worth $10,231,000. Ameriprise Financial Inc. purchased a new position in Smart Global Holdings in the 2nd quarter worth $7,126,000. Crosslink Capital Inc. purchased a new position in Smart Global Holdings in the 2nd quarter worth $2,358,000. Finally, Empyrean Capital Partners LP purchased a new position in Smart Global Holdings in the 2nd quarter worth $1,741,000.

Smart Global Holdings Company Profile

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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