SMART Global Holdings, Inc. (NASDAQ:SGH) CEO Mark Adams Purchases 10,000 Shares of Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) CEO Mark Adams bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, with a total value of $187,900.00. Following the completion of the transaction, the chief executive officer now directly owns 29,640 shares in the company, valued at $556,935.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

SMART Global Trading Down 1.2 %

NASDAQ:SGH opened at $19.44 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. The firm’s 50 day moving average is $22.99 and its 200 day moving average is $20.05. SMART Global Holdings, Inc. has a 12 month low of $12.66 and a 12 month high of $29.99.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Tuesday, January 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The company had revenue of $274.25 million for the quarter, compared to analysts’ expectations of $275.00 million. SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. SMART Global’s revenue was down 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Equities research analysts expect that SMART Global Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SMART Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of SMART Global by 75.6% in the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock worth $4,447,000 after purchasing an additional 101,159 shares during the period. Deutsche Bank AG grew its position in SMART Global by 46.3% in the third quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after acquiring an additional 152,918 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in SMART Global in the third quarter worth $1,994,000. American Century Companies Inc. grew its position in SMART Global by 42.3% in the third quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock worth $7,133,000 after acquiring an additional 87,035 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in SMART Global in the third quarter worth $702,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SGH. Stifel Nicolaus boosted their target price on SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC boosted their target price on SMART Global from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday.

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.