Insider Selling: Smart Global Holdings Inc (SGH) CEO Sells 132,045 Shares of Stock
Smart Global Holdings Inc (NASDAQ:SGH) CEO Iain Mackenzie sold 132,045 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $32.10, for a total transaction of $4,238,644.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Smart Global Holdings Inc (NASDAQ:SGH) traded down $1.11 during trading hours on Wednesday, reaching $28.10. 1,029,315 shares of the company were exchanged, compared to its average volume of 286,612. Smart Global Holdings Inc has a 52 week low of $11.50 and a 52 week high of $43.15. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 1.87.
Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.15. The business had revenue of $223.00 million during the quarter, compared to analysts’ expectations of $210.54 million. The firm’s revenue was up 52.5% compared to the same quarter last year. analysts predict that Smart Global Holdings Inc will post 3.59 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Smart Global to $35.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. They noted that the move was a valuation call. Barclays lifted their price target on shares of Smart Global from $19.00 to $28.00 and gave the company a “positive” rating in a report on Friday, September 29th. Jefferies Group reaffirmed a “buy” rating and set a $28.50 price target (up previously from $23.00) on shares of Smart Global in a report on Monday, October 2nd. Deutsche Bank reissued a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Smart Global in a report on Monday, October 2nd. Finally, Needham & Company LLC boosted their target price on shares of Smart Global from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $36.06.
ILLEGAL ACTIVITY WARNING: “Insider Selling: Smart Global Holdings Inc (SGH) CEO Sells 132,045 Shares of Stock” was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/12/06/insider-selling-smart-global-holdings-inc-sgh-ceo-sells-132045-shares-of-stock.html.
About Smart Global
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.
Receive News & Ratings for Smart Global Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global Holdings Inc and related companies with MarketBeat.com's FREE daily email newsletter.