Shares of Smart Global Holdings Inc (NASDAQ:SGH) have received an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $39.93.
A number of research firms recently weighed in on SGH. Zacks Investment Research cut Smart Global from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Citigroup lifted their target price on Smart Global to $35.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Stifel Nicolaus lifted their target price on Smart Global from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Deutsche Bank lifted their target price on Smart Global from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $46.00 target price on shares of Smart Global in a research note on Thursday, January 18th.
Smart Global (NASDAQ:SGH) traded up $1.27 during mid-day trading on Friday, reaching $34.47. The company had a trading volume of 297,600 shares, compared to its average volume of 378,339. Smart Global has a 12-month low of $11.50 and a 12-month high of $43.15. The firm has a market cap of $761.28 and a PE ratio of 62.67. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.43 and a quick ratio of 0.97.
In other news, VP Alan Marten sold 25,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $32.10, for a total value of $802,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $33.40, for a total value of $250,500.00. The disclosure for this sale can be found here. Insiders sold a total of 3,353,807 shares of company stock worth $108,030,317 over the last 90 days. 6.90% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Deutsche Bank AG lifted its holdings in Smart Global by 3.3% during the fourth quarter. Deutsche Bank AG now owns 59,457 shares of the company’s stock worth $2,002,000 after acquiring an additional 1,911 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Smart Global during the fourth quarter worth about $101,000. SG Americas Securities LLC bought a new position in Smart Global during the third quarter worth about $103,000. Tower Research Capital LLC TRC lifted its holdings in Smart Global by 2,373.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,798 shares of the company’s stock worth $162,000 after acquiring an additional 4,604 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Smart Global in the third quarter valued at about $133,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
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About Smart Global
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.
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