Smart Global Holdings Inc (SGH) Price Target Increased to $42.00 by Analysts at Roth Capital
Smart Global Holdings Inc (NYSE:SGH) had its price target raised by equities research analysts at Roth Capital from $30.00 to $42.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the stock. Roth Capital’s price target would suggest a potential upside of 13.73% from the company’s current price.
A number of other research firms have also recently weighed in on SGH. Needham & Company LLC lifted their price objective on shares of Smart Global Holdings from $33.00 to $40.00 and gave the company a “strong-buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Smart Global Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a report on Thursday, October 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.50 price objective (up previously from $23.00) on shares of Smart Global Holdings in a report on Monday, October 2nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Smart Global Holdings in a report on Monday, October 2nd. Finally, Barclays PLC lifted their price objective on shares of Smart Global Holdings from $19.00 to $28.00 and gave the company a “positive” rating in a report on Friday, September 29th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $33.21.
Shares of Smart Global Holdings (SGH) traded up 11.54% during midday trading on Wednesday, reaching $36.93. The company’s stock had a trading volume of 522,387 shares. Smart Global Holdings has a 12-month low of $11.50 and a 12-month high of $37.11. The firm’s market capitalization is $791.56 million. The stock has a 50-day moving average of $23.27 and a 200 day moving average of $18.75.
Smart Global Holdings (NYSE:SGH) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating 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 analysts’ expectations of $210.54 million. The company’s 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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Several hedge funds have recently added to or reduced their stakes in SGH. FMR LLC purchased a new stake in shares of Smart Global Holdings during the second quarter worth about $13,569,000. Canada Pension Plan Investment Board purchased a new stake in shares of Smart Global Holdings during the second quarter worth about $10,231,000. Ameriprise Financial Inc. purchased a new stake in shares of Smart Global Holdings during the second quarter worth about $7,126,000. Crosslink Capital Inc. purchased a new stake in shares of Smart Global Holdings during the second quarter worth about $2,358,000. Finally, Empyrean Capital Partners LP purchased a new stake in shares of Smart Global Holdings during the second quarter worth about $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.
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