Traders Buy High Volume of Call Options on Smart Global (SGH)

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Smart Global Holdings Inc (NASDAQ:SGH) saw some unusual options trading activity on Wednesday. Stock investors purchased 1,221 call options on the company. This is an increase of 1,074% compared to the typical volume of 104 call options.

In other Smart Global news, VP Bruce M. Goldberg sold 3,042 shares of the stock in a transaction dated Thursday, December 20th. The shares were sold at an average price of $30.20, for a total value of $91,868.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iain Mackenzie sold 10,000 shares of the stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $28.99, for a total transaction of $289,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 282,482 shares of company stock valued at $8,813,724. 4.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Smart Global in the third quarter valued at approximately $130,000. USA Financial Portformulas Corp acquired a new stake in shares of Smart Global in the third quarter valued at approximately $177,000. Paloma Partners Management Co acquired a new stake in shares of Smart Global in the third quarter valued at approximately $211,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Smart Global in the third quarter valued at approximately $226,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Smart Global in the third quarter valued at approximately $227,000. Institutional investors and hedge funds own 83.06% of the company’s stock.

A number of research analysts have issued reports on the stock. ValuEngine cut shares of Smart Global from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Deutsche Bank dropped their target price on shares of Smart Global from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, October 5th. Stifel Nicolaus increased their target price on shares of Smart Global from $61.00 to $62.00 and gave the company a “buy” rating in a report on Friday, October 5th. Zacks Investment Research raised shares of Smart Global from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, October 11th. Finally, Roth Capital dropped their target price on shares of Smart Global from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Smart Global currently has a consensus rating of “Hold” and a consensus target price of $47.83.

SGH stock opened at $23.92 on Thursday. The company has a market capitalization of $675.46 million, a PE ratio of 3.99, a price-to-earnings-growth ratio of 0.30 and a beta of 1.04. Smart Global has a 12 month low of $22.50 and a 12 month high of $56.69. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 0.98.

Smart Global (NASDAQ:SGH) last released its quarterly earnings results on Tuesday, January 8th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.17). The business had revenue of $393.90 million during the quarter, compared to analyst estimates of $382.23 million. Smart Global had a net margin of 9.27% and a return on equity of 92.01%. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. Equities analysts anticipate that Smart Global will post 6.61 EPS for the current fiscal year.

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About Smart Global

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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