LSV Asset Management Trims Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

LSV Asset Management lowered its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 7.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 692,100 shares of the company’s stock after selling 53,400 shares during the period. LSV Asset Management’s holdings in SMART Global were worth $13,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of SMART Global by 5.0% in the fourth quarter. Van ECK Associates Corp now owns 20,277 shares of the company’s stock worth $384,000 after acquiring an additional 957 shares during the period. SummerHaven Investment Management LLC boosted its stake in SMART Global by 2.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,624 shares of the company’s stock worth $504,000 after purchasing an additional 588 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of SMART Global by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 25,499 shares of the company’s stock valued at $483,000 after purchasing an additional 695 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of SMART Global by 24.5% in the 4th quarter. New York State Common Retirement Fund now owns 23,647 shares of the company’s stock worth $448,000 after buying an additional 4,647 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of SMART Global in the fourth quarter valued at $1,073,000.

Wall Street Analysts Forecast Growth

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

SMART Global Trading Down 0.3 %

Shares of SGH opened at $18.53 on Wednesday. The firm has a market capitalization of $969.12 million, a price-to-earnings ratio of -5.04 and a beta of 1.80. 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. The company has a 50-day moving average of $22.04 and a 200 day moving average of $19.69.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The firm had revenue of $284.82 million for the quarter, compared to analysts’ expectations of $285.18 million. On average, research analysts expect that SMART Global Holdings, Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling at SMART Global

In related news, Director Penny Herscher sold 2,525 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the sale, the director now owns 12,713 shares of the company’s stock, valued at $287,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark Adams purchased 10,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the acquisition, the chief executive officer now owns 29,640 shares in the company, valued at approximately $556,935.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the sale, the director now owns 12,713 shares of the company’s stock, valued at $287,568.06. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

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.