Smart Global Holdings Inc (NYSE:SGH)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday.

The analysts wrote, “Yesterday we hosted Jack Pacheco, CFO, and Suzanne Schmidt, Head of Investor Relations, of Smart Global Holdings on a series of investor meetings in Boston. While SGH, a global provider of specialty memory as well as DRAM and mobile memory in Brazil, has run up ~47% following a beat and raise quarter last month we continue to see upside as the company is capitalizing on a trifecta of tailwinds: 1) unit grow in a globally strong memory market 2) Mobile ASP expansion from ~$20 today as densities increase and 3) a favorable regulatory environment in Brazilian mobile market (local content rulings to increase from 50% -> 60% in F2H18, and potentially 80%).””

Other equities analysts have also issued reports about the stock. Stifel Nicolaus assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued a “buy” rating and a $27.00 price target on the stock. Barclays PLC assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued an “overweight” rating and a $19.00 price target on the stock. Roth Capital assumed coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued a “buy” rating and a $24.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of Smart Global Holdings in a research note on Sunday, June 25th. Finally, Zacks Investment Research lowered shares of Smart Global Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.50.

Smart Global Holdings (NYSE SGH) opened at 33.11 on Wednesday. The stock has a 50 day moving average of $23.27 and a 200-day moving average of $18.75. Smart Global Holdings has a 12 month low of $11.50 and a 12 month high of $33.62. The stock’s market cap is $709.68 million.

Smart Global Holdings (NYSE:SGH) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million for the quarter, compared to analyst estimates of $210.54 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 52.5% compared to the same quarter last year. On average, equities analysts forecast that Smart Global Holdings will post $3.12 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in SGH. Stifel Financial Corp acquired a new stake in shares of Smart Global Holdings in the second quarter valued at approximately $169,000. Spark Investment Management LLC acquired a new stake in shares of Smart Global Holdings in the second quarter valued at approximately $184,000. Laurion Capital Management LP acquired a new stake in shares of Smart Global Holdings in the second quarter valued at approximately $324,000. Goldman Sachs Group Inc. acquired a new stake in shares of Smart Global Holdings in the second quarter valued at approximately $429,000. Finally, Symphony Asset Management LLC acquired a new stake in shares of Smart Global Holdings in the second quarter valued at approximately $1,286,000.

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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