Smart Global Holdings Inc (NYSE:SGH) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $33.21.

A number of equities analysts have weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.50 target price (up previously from $23.00) on shares of Smart Global Holdings in a research note on Monday, October 2nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $28.00 target price (up previously from $25.00) on shares of Smart Global Holdings in a research note on Monday, October 2nd. Needham & Company LLC raised their target price on shares of Smart Global Holdings from $23.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Barclays PLC raised their target price on shares of Smart Global Holdings from $19.00 to $28.00 and gave the company a “positive” rating in a research note on Friday, September 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 target price (up previously from $27.00) on shares of Smart Global Holdings in a research note on Thursday, September 28th.

Shares of Smart Global Holdings (NYSE:SGH) traded down 2.33% during mid-day trading on Friday, hitting $31.04. The stock had a trading volume of 218,610 shares. Smart Global Holdings has a 1-year low of $11.50 and a 1-year high of $38.24. The firm’s market capitalization is $675.93 million. The stock’s 50-day moving average is $26.46 and its 200 day moving average is $19.92.

Smart Global Holdings (NYSE:SGH) last announced its earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. The company’s quarterly revenue was up 52.5% compared to the same quarter last year. Equities research analysts predict that Smart Global Holdings will post $3.21 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC purchased a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $13,569,000. Canada Pension Plan Investment Board purchased a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $10,231,000. Ameriprise Financial Inc. purchased a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $7,126,000. Crosslink Capital Inc. purchased a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $2,358,000. Finally, Empyrean Capital Partners LP purchased a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $1,741,000.

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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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