Bayesian Capital Management LP Invests $742,000 in SMART Global Holdings, Inc. (NASDAQ:SGH)

Bayesian Capital Management LP bought a new position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,208 shares of the company’s stock, valued at approximately $742,000.

A number of other hedge funds have also recently bought and sold shares of SGH. Vanguard Group Inc. boosted its holdings in shares of SMART Global by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock valued at $185,246,000 after purchasing an additional 203,197 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of SMART Global by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock worth $28,084,000 after purchasing an additional 37,256 shares during the last quarter. LSV Asset Management increased its position in shares of SMART Global by 26.3% in the 1st quarter. LSV Asset Management now owns 874,300 shares of the company’s stock worth $23,012,000 after purchasing an additional 182,200 shares during the last quarter. UBS Group AG increased its position in shares of SMART Global by 7,076.7% in the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after purchasing an additional 850,764 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SMART Global by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 655,702 shares of the company’s stock worth $12,412,000 after acquiring an additional 30,344 shares during the period.

Insider Buying and Selling

In related news, insider Joseph Gates Clark sold 2,527 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $23.67, for a total transaction of $59,814.09. Following the transaction, the insider now owns 82,518 shares of the company’s stock, valued at $1,953,201.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph Gates Clark sold 2,527 shares of SMART Global stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $23.67, for a total value of $59,814.09. Following the transaction, the insider now owns 82,518 shares of the company’s stock, valued at $1,953,201.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jack A. Pacheco sold 13,333 shares of SMART Global stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $23.16, for a total transaction of $308,792.28. Following the completion of the transaction, the chief operating officer now directly owns 211,896 shares in the company, valued at approximately $4,907,511.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,860 shares of company stock worth $513,606. 2.30% of the stock is owned by company insiders.

SMART Global Trading Down 3.0 %

Shares of SGH traded down $0.69 during midday trading on Tuesday, hitting $22.33. The stock had a trading volume of 457,614 shares, compared to its average volume of 1,083,757. 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 firm has a market cap of $1.18 billion, a P/E ratio of -7.27 and a beta of 1.69. The business has a 50-day simple moving average of $23.00 and a two-hundred day simple moving average of $22.03. SMART Global Holdings, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $29.81.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The business had revenue of $300.58 million during the quarter, compared to analysts’ expectations of $300.00 million. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. As a group, equities analysts forecast that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SGH. Barclays increased their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Stifel Nicolaus raised their target price on shares of SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Rosenblatt Securities reissued a “buy” rating and set a $35.00 target price on shares of SMART Global in a research note on Wednesday, July 3rd. Finally, Needham & Company LLC raised their target price on shares of SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.25.

SMART Global Company Profile

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.