SMART Global (NASDAQ:SGH) Earns “Buy” Rating from Stifel Nicolaus

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a report issued on Wednesday, Benzinga reports. They currently have a $27.50 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 19.25% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $27.00 price target on shares of SMART Global in a research report on Tuesday, May 7th. Rosenblatt Securities reissued a “buy” rating and set a $35.00 price target on shares of SMART Global in a research report on Wednesday.

SMART Global Trading Up 0.6 %

Shares of SGH stock traded up $0.13 on Wednesday, hitting $23.06. The stock had a trading volume of 96,429 shares, compared to its average volume of 1,016,537. SMART Global has a twelve month low of $12.66 and a twelve month high of $28.18. The firm has a market cap of $1.21 billion, a P/E ratio of -6.32 and a beta of 1.69. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The company has a fifty day moving average price of $20.69 and a two-hundred day moving average price of $21.19.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The firm had revenue of $284.82 million during the quarter, compared to analyst estimates of $285.18 million. As a group, analysts forecast that SMART Global will post 0.59 earnings per share for the current fiscal year.

Insider Activity at SMART Global

In related news, CEO Mark Adams purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the purchase, the chief executive officer now owns 29,640 shares in the company, valued at $556,935.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the sale, the insider now owns 92,386 shares in the company, valued at approximately $1,657,404.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Adams purchased 10,000 shares of SMART Global stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the transaction, the chief executive officer now directly owns 29,640 shares in the company, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SMART Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of SMART Global by 75.6% during the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock valued at $4,447,000 after acquiring an additional 101,159 shares during the last quarter. Deutsche Bank AG increased its position in shares of SMART Global by 46.3% during the third quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after buying an additional 152,918 shares during the period. Nomura Holdings Inc. increased its position in shares of SMART Global by 41.1% during the fourth quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock worth $4,442,000 after buying an additional 68,315 shares during the period. American Century Companies Inc. increased its position in shares of SMART Global by 42.3% during the third quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock worth $7,133,000 after buying an additional 87,035 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of SMART Global by 11.1% during the third quarter. Vanguard Group Inc. now owns 6,024,986 shares of the company’s stock worth $146,708,000 after buying an additional 603,294 shares during the period.

About SMART Global

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.