Smart Global (SGH) Stock Price Down 8.6%

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.

How to Become a New Pot Stock Millionaire

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.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, March 22nd. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.40. The company had revenue of $314.00 million for the quarter, compared to analyst estimates of $290.06 million. Smart Global had a return on equity of 100.66% and a net margin of 5.50%. The business’s revenue was up 82.6% compared to the same quarter last year. analysts forecast that Smart Global Holdings Inc will post 5.94 earnings per share for the current year.

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.

TRADEMARK VIOLATION NOTICE: This story was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3335179/smart-global-sgh-stock-price-down-8-6.html.

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.

Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Critical Review: Codexis  & FutureFuel
Critical Review: Codexis & FutureFuel
Reviewing iRobot  and SodaStream
Reviewing iRobot and SodaStream
Bitauto Hldg Ltd  Given Consensus Recommendation of “Hold” by Brokerages
Bitauto Hldg Ltd Given Consensus Recommendation of “Hold” by Brokerages
Eldorado Gold Corp  Receives Consensus Recommendation of “Hold” from Brokerages
Eldorado Gold Corp Receives Consensus Recommendation of “Hold” from Brokerages
Analysts Anticipate Sogou  to Announce $0.05 EPS
Analysts Anticipate Sogou to Announce $0.05 EPS
AK Steel  versus Its Peers Head-To-Head Contrast
AK Steel versus Its Peers Head-To-Head Contrast


© 2006-2018 Ticker Report. Google+.