Insider Selling: SMART Global Holdings, Inc. (NASDAQ:SGH) COO Sells 13,333 Shares of Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,333 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $23.16, for a total transaction of $308,792.28. Following the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,907,511.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SMART Global Trading Down 7.9 %

SGH opened at $21.55 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of -7.00 and a beta of 1.69. SMART Global Holdings, Inc. has a 12 month low of $12.66 and a 12 month high of $29.81. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average of $23.13 and a 200 day moving average of $22.05.

SMART Global (NASDAQ:SGH) last released its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The company had revenue of $300.58 million during the quarter, compared to analyst estimates of $300.00 million. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. As a group, research analysts forecast that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in shares of SMART Global by 7,076.7% during the fourth quarter. UBS Group AG now owns 862,786 shares of the company’s stock valued at $16,333,000 after buying an additional 850,764 shares during the period. Vanguard Group Inc. boosted its position in shares of SMART Global by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after buying an additional 810,022 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of SMART Global during the second quarter valued at approximately $9,205,000. 1492 Capital Management LLC purchased a new position in shares of SMART Global during the fourth quarter valued at approximately $4,153,000. Finally, Russell Investments Group Ltd. boosted its position in shares of SMART Global by 331.9% during the first quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock valued at $6,836,000 after buying an additional 199,585 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SGH shares. Stifel Nicolaus upped their target price on shares of SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays upped their target price on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Needham & Company LLC upped their target price on shares of SMART Global from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of SMART Global in a research note on Wednesday, July 3rd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.25.

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.