Rhumbline Advisers lessened its stake in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 6.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,966 shares of the company’s stock after selling 2,842 shares during the period. Rhumbline Advisers owned 0.16% of SMART Global worth $1,858,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in SMART Global by 2,724.0% during the first quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock worth $32,000 after buying an additional 681 shares during the last quarter. NEXT Financial Group Inc raised its holdings in SMART Global by 11,904.8% during the second quarter. NEXT Financial Group Inc now owns 2,521 shares of the company’s stock worth $120,000 after buying an additional 2,500 shares during the last quarter. Prudent Man Advisors LLC acquired a new position in SMART Global during the first quarter worth $207,000. Arizona State Retirement System acquired a new position in SMART Global during the second quarter worth $225,000. Finally, XTX Topco Ltd acquired a new position in SMART Global during the first quarter worth $219,000.
Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SMART Global from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 7th. Needham & Company LLC increased their target price on shares of SMART Global from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 7th. Jefferies Financial Group increased their target price on shares of SMART Global from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 7th. Zacks Investment Research upgraded shares of SMART Global from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, July 13th. Finally, Stifel Nicolaus increased their price target on shares of SMART Global from $62.50 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 7th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $64.43.
SMART Global (NASDAQ:SGH) last issued its earnings results on Monday, July 5th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.30. The firm had revenue of $437.73 million during the quarter, compared to analyst estimates of $415.48 million. SMART Global had a net margin of 0.62% and a return on equity of 25.39%. The company’s quarterly revenue was up 55.6% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. Analysts anticipate that SMART Global Holdings, Inc. will post 3.52 earnings per share for the current fiscal year.
In other news, Director Ajay Shah sold 11,647 shares of the stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $45.00, for a total value of $524,115.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lake (Offshore) Aiv Gp Silver sold 3,000,000 shares of the stock in a transaction dated Tuesday, July 13th. The stock was sold at an average price of $50.50, for a total transaction of $151,500,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,026,647 shares of company stock worth $152,692,140. Insiders own 4.10% of the company’s stock.
SMART Global Company Profile
SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).
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