Smart Global Holdings Inc (SGH) Director Sells $1,074,001.80 in Stock
Smart Global Holdings Inc (NASDAQ:SGH) Director Mukesh Patel sold 33,458 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $32.10, for a total value of $1,074,001.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Smart Global Holdings Inc (NASDAQ SGH) traded down $1.11 during mid-day trading on Wednesday, reaching $28.10. The company’s stock had a trading volume of 1,029,315 shares, compared to its average volume of 286,612. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.45 and a quick ratio of 0.92. Smart Global Holdings Inc has a 52-week low of $11.50 and a 52-week high of $43.15.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. The business’s revenue for the quarter was up 52.5% on a year-over-year basis. sell-side analysts forecast that Smart Global Holdings Inc will post 3.59 earnings per share for the current year.
A number of analysts have weighed in on the company. Roth Capital boosted their price target on Smart Global from $30.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Needham & Company LLC boosted their price objective on Smart Global from $33.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 11th. Deutsche Bank reissued a “buy” rating and set a $35.00 price objective on shares of Smart Global in a research report on Tuesday, November 7th. Citigroup boosted their price objective on Smart Global to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Smart Global from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research report on Thursday, October 5th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $36.06.
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.
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