SummerHaven Investment Management LLC Raises Stake in SMART Global Holdings, Inc. (NASDAQ:SGH)

SummerHaven Investment Management LLC lifted its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 26,624 shares of the company’s stock after buying an additional 588 shares during the period. SummerHaven Investment Management LLC owned 0.05% of SMART Global worth $504,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SGH. Migdal Insurance & Financial Holdings Ltd. lifted its position in SMART Global by 85.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company’s stock worth $93,000 after buying an additional 1,757 shares during the period. Strs Ohio purchased a new position in shares of SMART Global during the 3rd quarter worth about $749,000. Inspire Investing LLC boosted its position in shares of SMART Global by 17.7% in the third quarter. Inspire Investing LLC now owns 41,807 shares of the company’s stock worth $1,018,000 after acquiring an additional 6,289 shares during the last quarter. Victory Capital Management Inc. grew its holdings in SMART Global by 36.5% in the third quarter. Victory Capital Management Inc. now owns 87,469 shares of the company’s stock valued at $2,130,000 after purchasing an additional 23,372 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in SMART Global during the third quarter worth approximately $702,000.

SMART Global Stock Up 1.1 %

Shares of SGH stock opened at $18.55 on Tuesday. The firm has a fifty day moving average of $22.27 and a two-hundred day moving average of $19.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.99.

Insider Activity at SMART Global

In other news, Director Penny Herscher sold 2,525 shares of the firm’s 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 transaction, the director now directly owns 12,713 shares in the company, valued at approximately $287,568.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Penny Herscher sold 2,525 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the transaction, the director now owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

SGH has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $27.00 target price on shares of SMART Global in a report on Monday, April 22nd.

SMART Global 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.