Brokerages Set Smart Global Holdings Inc (SGH) PT at $40.36

Smart Global Holdings Inc (NASDAQ:SGH) has earned a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $49.64.

SGH has been the topic of several research reports. Roth Capital boosted their target price on Smart Global to $50.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Needham & Company LLC boosted their target price on Smart Global from $43.00 to $46.00 and gave the company a “strong-buy” rating in a research note on Tuesday, December 26th. Deutsche Bank boosted their target price on Smart Global to $45.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research cut Smart Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus boosted their target price on Smart Global from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Saturday, December 30th.

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SGH stock traded up $4.85 during midday trading on Wednesday, reaching $48.92. The company’s stock had a trading volume of 2,403,091 shares, compared to its average volume of 638,386. The company has a market cap of $974.22 and a PE ratio of 19.26. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.43 and a quick ratio of 0.97. Smart Global has a 12-month low of $11.50 and a 12-month high of $51.19.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, March 22nd. The company reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.40. The firm had revenue of $314.00 million for the quarter, compared to analysts’ expectations of $290.06 million. Smart Global had a return on equity of 128.68% and a net margin of 5.50%. The company’s revenue was up 82.6% compared to the same quarter last year. sell-side analysts forecast that Smart Global will post 4.76 earnings per share for the current fiscal year.

In other Smart Global news, VP Bruce M. Goldberg sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.76, for a total transaction of $89,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $46.53, for a total value of $348,975.00. The disclosure for this sale can be found here. Insiders have sold a total of 122,833 shares of company stock worth $4,540,321 in the last ninety days. Insiders own 6.90% of the company’s stock.

Several large investors have recently bought and sold shares of SGH. Nationwide Fund Advisors acquired a new position in shares of Smart Global during the 3rd quarter worth approximately $268,000. Rhumbline Advisers acquired a new position in shares of Smart Global during the 3rd quarter worth approximately $387,000. Bank of New York Mellon Corp acquired a new position in shares of Smart Global during the 3rd quarter worth approximately $1,544,000. SG Americas Securities LLC acquired a new position in shares of Smart Global during the 3rd quarter worth approximately $103,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Smart Global during the 3rd quarter worth approximately $166,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.

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Smart Global Company Profile

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.

Analyst Recommendations for Smart Global (NASDAQ:SGH)

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