SMART Global (NASDAQ:SGH) Shares Gap Down to $53.85


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Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) gapped down before the market opened on Thursday . The stock had previously closed at $53.85, but opened at $52.55. SMART Global shares last traded at $53.11, with a volume of 1,768 shares trading hands.

Several analysts recently issued reports on the company. Rosenblatt Securities lifted their target price on SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 5th. Needham & Company LLC lifted their target price on SMART Global from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, April 13th. Stifel Nicolaus boosted their target price on shares of SMART Global from $55.00 to $62.50 and gave the company a “buy” rating in a research report on Wednesday, April 7th. TheStreet upgraded SMART Global from a “c+” rating to a “b-” rating in a report on Tuesday, April 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of SMART Global from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $61.08.

The company has a market cap of $1.33 billion, a price-to-earnings ratio of 29.75 and a beta of 0.97. The business’s 50-day simple moving average is $48.63 and its 200-day simple moving average is $38.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.98 and a quick ratio of 1.46.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Monday, April 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. SMART Global had a net margin of 0.06% and a return on equity of 16.65%. The company had revenue of $304.00 million during the quarter, compared to the consensus estimate of $295.57 million. During the same quarter last year, the company earned $0.52 earnings per share. SMART Global’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that SMART Global Holdings, Inc. will post 2.61 EPS for the current year.

In related news, EVP Kiwan Kim sold 12,500 shares of SMART Global stock in a transaction on Monday, February 8th. The stock was sold at an average price of $42.91, for a total value of $536,375.00. Following the transaction, the executive vice president now directly owns 57,685 shares in the company, valued at approximately $2,475,263.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alan Marten sold 3,242 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $47.85, for a total value of $155,129.70. Following the completion of the sale, the senior vice president now directly owns 118,908 shares of the company’s stock, valued at approximately $5,689,747.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,992 shares of company stock valued at $1,442,692. Insiders own 4.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SGH. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in SMART Global in the fourth quarter worth about $999,000. Foundry Partners LLC grew its stake in shares of SMART Global by 83.9% during the fourth quarter. Foundry Partners LLC now owns 80,655 shares of the company’s stock valued at $3,035,000 after purchasing an additional 36,795 shares during the last quarter. Citigroup Inc. lifted its stake in shares of 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 acquiring an additional 2,645 shares during the period. King Luther Capital Management Corp bought a new stake in shares of SMART Global during the fourth quarter worth approximately $828,000. Finally, SG Americas Securities LLC boosted its position in shares of SMART Global by 276.3% in the 4th quarter. SG Americas Securities LLC now owns 72,430 shares of the company’s stock worth $2,726,000 after purchasing an additional 53,180 shares during the last quarter.

About SMART Global (NASDAQ:SGH)

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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