SMART Global (NASDAQ:SGH) Price Target Increased to $27.50 by Analysts at Stifel Nicolaus

SMART Global (NASDAQ:SGH) had its price target raised by Stifel Nicolaus from $26.00 to $27.50 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Needham & Company LLC increased their price target on shares of SMART Global from $24.00 to $27.00 and gave the company a buy rating in a research report on Wednesday.

SMART Global Price Performance

SGH opened at $19.68 on Wednesday. The firm has a market cap of $1.02 billion, a P/E ratio of -4.96 and a beta of 1.74. The firm has a 50-day moving average of $23.00 and a 200 day moving average of $20.05. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.11 and a current ratio of 2.68. SMART Global has a fifty-two week low of $12.66 and a fifty-two week high of $29.99.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Tuesday, January 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.08. The company had revenue of $274.25 million during the quarter, compared to analyst estimates of $275.00 million. SMART Global had a negative net margin of 15.14% and a positive return on equity of 20.15%. The firm’s revenue for the quarter was down 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, research analysts expect that SMART Global will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other SMART Global news, insider Joseph Gates Clark sold 2,403 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total transaction of $53,731.08. Following the completion of the transaction, the insider now owns 95,895 shares in the company, valued at $2,144,212.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Penny Herscher sold 2,525 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $22.62, for a total value of $57,115.50. Following the sale, the director now directly owns 12,713 shares of the company’s stock, valued at $287,568.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Gates Clark sold 2,403 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $22.36, for a total transaction of $53,731.08. Following the completion of the sale, the insider now directly owns 95,895 shares in the company, valued at $2,144,212.20. The disclosure for this sale can be found here. Insiders sold 7,428 shares of company stock worth $167,147 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SMART Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC raised its stake in SMART Global by 136.8% in the first quarter. ProShare Advisors LLC now owns 10,788 shares of the company’s stock valued at $278,000 after purchasing an additional 6,233 shares in the last quarter. JPMorgan Chase & Co. raised its stake in SMART Global by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 294,678 shares of the company’s stock valued at $7,611,000 after purchasing an additional 54,051 shares in the last quarter. Raymond James & Associates raised its stake in SMART Global by 200.4% in the first quarter. Raymond James & Associates now owns 35,207 shares of the company’s stock valued at $909,000 after purchasing an additional 23,488 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SMART Global by 101.4% in the first quarter. Bank of New York Mellon Corp now owns 395,670 shares of the company’s stock valued at $10,220,000 after purchasing an additional 199,254 shares in the last quarter. Finally, Citigroup Inc. raised its stake in SMART Global by 151.2% in the first quarter. Citigroup Inc. now owns 63,904 shares of the company’s stock valued at $1,651,000 after purchasing an additional 38,463 shares in the last quarter.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.