Means Investment CO. Inc. reduced its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,079 shares of the company’s stock after selling 1,920 shares during the period. Means Investment CO. Inc.’s holdings in SMART Global were worth $878,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SMART Global by 287.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,711 shares of the company’s stock worth $64,000 after buying an additional 1,269 shares in the last quarter. Vantage Consulting Group Inc purchased a new stake in SMART Global during the fourth quarter valued at about $73,000. Public Employees Retirement System of Ohio purchased a new stake in SMART Global during the fourth quarter valued at about $134,000. Citigroup Inc. raised its position in SMART Global by 274.1% during the fourth quarter. Citigroup Inc. now owns 3,610 shares of the company’s stock valued at $136,000 after purchasing an additional 2,645 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of SMART Global in the third quarter worth about $201,000.
Shares of SGH traded up $0.03 during midday trading on Thursday, hitting $54.58. 10,568 shares of the company traded hands, compared to its average volume of 284,374. The firm has a 50 day moving average of $46.57 and a 200-day moving average of $36.27. SMART Global Holdings, Inc. has a 52 week low of $20.66 and a 52 week high of $54.86. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 30.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.46 and a current ratio of 1.98.
In related news, SVP Alan Marten sold 2,800 shares of the stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $40.00, for a total value of $112,000.00. Following the sale, the senior vice president now directly owns 118,466 shares of the company’s stock, valued at approximately $4,738,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack A. Pacheco sold 3,750 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $46.25, for a total transaction of $173,437.50. Following the completion of the sale, the chief financial officer now directly owns 95,206 shares in the company, valued at $4,403,277.50. The disclosure for this sale can be found here. Insiders have sold a total of 34,792 shares of company stock worth $1,554,692 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.
Several research analysts have recently commented on SGH shares. Barclays started coverage on SMART Global in a report on Wednesday. They issued an “overweight” rating and a $60.00 price objective on the stock. TheStreet upgraded SMART Global from a “c+” rating to a “b-” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on SMART Global from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Rosenblatt Securities lifted their price objective on SMART Global from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 5th. Finally, Needham & Company LLC raised their target price on SMART Global from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $54.58.
About SMART Global
SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. It offers dynamic random access memory (DRAM) modules for desktops, notebooks, and servers; and embedded and removable flash memory products; and flash component products, such as embedded multimedia controllers, and embedded and removal products in USB, CompactFlash and SD/microSD card configurations.
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