Smart Global Holdings Inc (NASDAQ:SGH) fell 8.6% during mid-day trading on Wednesday . The company traded as low as $44.50 and last traded at $45.66. 2,781,579 shares changed hands during mid-day trading, an increase of 327% from the average session volume of 650,984 shares. The stock had previously closed at $49.94.
A number of research firms recently issued reports on SGH. Needham & Company LLC lifted their price target on shares of Smart Global from $43.00 to $46.00 and gave the company a “strong-buy” rating in a research note on Tuesday, December 26th. BidaskClub raised shares of Smart Global from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 13th. Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price target (up previously from $40.00) on shares of Smart Global in a research note on Friday, December 22nd. Zacks Investment Research cut shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Barclays lifted their price target on shares of Smart Global from $40.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, March 23rd. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Smart Global has an average rating of “Buy” and a consensus price target of $51.19.
The company has a quick ratio of 1.08, a current ratio of 1.62 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1,009.37 and a price-to-earnings ratio of 22.66.
In other news, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $38.64, for a total transaction of $289,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,000,000 shares of Smart Global stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $45.20, for a total value of $90,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,114,236 shares of company stock worth $95,273,590 in the last 90 days. 6.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SGH. Compagnie Lombard Odier SCmA purchased a new position in shares of Smart Global during the 4th quarter worth $101,000. SG Americas Securities LLC purchased a new position in shares of Smart Global during the 3rd quarter worth $103,000. Legal & General Group Plc purchased a new position in shares of Smart Global during the 3rd quarter worth $133,000. Tower Research Capital LLC TRC raised its holdings in shares of Smart Global by 2,373.2% during the 4th 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 during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Smart Global during the 3rd quarter worth $166,000. Institutional investors and hedge funds own 87.05% of the company’s stock.
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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.
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