SMART Global (NASDAQ:SGH) Reaches New 1-Year High at $56.99


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SMART Global Holdings, Inc. (NASDAQ:SGH)’s stock price reached a new 52-week high on Monday . The company traded as high as $56.99 and last traded at $56.09, with a volume of 760 shares changing hands. The stock had previously closed at $55.90.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of SMART Global from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a report on Tuesday. TheStreet upgraded shares of SMART Global from a “c+” rating to a “b-” rating in a research note on Tuesday, April 6th. Stifel Nicolaus lifted their target price on shares of SMART Global from $55.00 to $62.50 and gave the stock a “buy” rating in a research note on Wednesday, April 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SMART Global from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 7th. Finally, Rosenblatt Securities lifted their target price on shares of SMART Global from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 5th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. SMART Global currently has an average rating of “Buy” and a consensus target price of $61.08.

The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.35 billion, a PE ratio of 30.01 and a beta of 0.97. The business’s 50-day simple moving average is $47.38 and its 200-day simple moving average is $37.15.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Monday, April 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. SMART Global had a net margin of 0.06% and a return on equity of 16.65%. The company had revenue of $304.00 million during the quarter, compared to analyst estimates of $295.57 million. During the same period last year, the firm posted $0.52 EPS. SMART Global’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that SMART Global Holdings, Inc. will post 2.61 EPS for the current fiscal year.

In other news, CFO Jack A. Pacheco sold 3,750 shares of SMART Global stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $46.25, for a total transaction of $173,437.50. Following the completion of the transaction, the chief financial officer now directly owns 95,206 shares of the company’s stock, valued at approximately $4,403,277.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Alan Marten sold 3,242 shares of SMART Global stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $47.85, for a total transaction of $155,129.70. Following the transaction, the senior vice president now directly owns 118,908 shares of the company’s stock, valued at $5,689,747.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,792 shares of company stock valued at $1,554,692. Insiders own 4.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in SMART Global by 4.9% in the 4th quarter. BlackRock Inc. now owns 2,181,250 shares of the company’s stock worth $82,081,000 after acquiring an additional 101,662 shares in the last quarter. SummerHaven Investment Management LLC purchased a new stake in SMART Global in the 4th quarter worth $564,000. FMR LLC purchased a new stake in SMART Global in the 1st quarter worth $7,757,000. Boston Partners increased its holdings in SMART Global by 2.5% in the 4th quarter. Boston Partners now owns 274,634 shares of the company’s stock worth $10,335,000 after acquiring an additional 6,650 shares in the last quarter. Finally, Clough Capital Partners L P purchased a new stake in SMART Global in the 4th quarter worth $9,133,000.

About SMART Global (NASDAQ:SGH)

SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. It offers dynamic random access memory (DRAM) modules for desktops, notebooks, and servers; and embedded and removable flash memory products; and flash component products, such as embedded multimedia controllers, and embedded and removal products in USB, CompactFlash and SD/microSD card configurations.

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