Smart Global Holdings Inc (NASDAQ:SGH) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $36.06.

SGH has been the subject of several research analyst reports. Citigroup lifted their target price 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. Barclays lifted their target price on Smart Global from $19.00 to $28.00 and gave the stock a “positive” rating in a research report on Friday, September 29th. Jefferies Group reiterated a “buy” rating and set a $28.50 target price (up from $23.00) on shares of Smart Global in a research report on Monday, October 2nd. Deutsche Bank reiterated a “buy” rating and set a $28.00 target price (up from $25.00) on shares of Smart Global in a research report on Monday, October 2nd. Finally, Needham & Company LLC lifted their target price on Smart Global from $23.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd.

Smart Global (NASDAQ SGH) traded up $0.37 during mid-day trading on Monday, hitting $29.65. 569,700 shares of the company were exchanged, compared to its average volume of 297,580. Smart Global has a 1 year low of $11.50 and a 1 year 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 issued its quarterly earnings results on Thursday, September 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 was up 52.5% compared to the same quarter last year. analysts predict that Smart Global will post 3.59 earnings per share for the current year.

In other Smart Global news, Director Sandeep Nayyar sold 7,148 shares of Smart Global stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $35.20, for a total value of $251,609.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.49, for a total value of $266,175.00. The disclosure for this sale can be found here. Insiders sold 3,256,622 shares of company stock worth $104,585,150 in the last quarter.

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Smart Global during the third quarter worth about $103,000. Legal & General Group Plc purchased a new stake in shares of Smart Global during the third quarter worth about $133,000. Strs Ohio purchased a new stake in shares of Smart Global during the third quarter worth about $158,000. Macquarie Group Ltd. purchased a new stake in shares of Smart Global during the third quarter worth about $166,000. Finally, Nationwide Fund Advisors purchased a new stake in shares of Smart Global during the third quarter worth about $268,000. Institutional investors and hedge funds own 92.18% of the company’s stock.

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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.

Analyst Recommendations for Smart Global (NASDAQ:SGH)

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