Mutual of America Capital Management LLC Has $175,000 Stock Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Mutual of America Capital Management LLC boosted its stake in SMART Global Holdings, Inc. (NASDAQ:SGHGet Rating) by 113.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,760 shares of the company’s stock after purchasing an additional 3,596 shares during the period. Mutual of America Capital Management LLC’s holdings in SMART Global were worth $175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SGH. Clark Capital Management Group Inc. lifted its stake in SMART Global by 1,423.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 496,051 shares of the company’s stock valued at $35,215,000 after purchasing an additional 463,488 shares during the last quarter. Renaissance Technologies LLC lifted its stake in SMART Global by 237.2% in the 4th quarter. Renaissance Technologies LLC now owns 501,986 shares of the company’s stock valued at $35,636,000 after purchasing an additional 353,100 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in SMART Global by 127.7% in the 1st quarter. Peregrine Capital Management LLC now owns 628,936 shares of the company’s stock valued at $16,245,000 after purchasing an additional 352,734 shares during the last quarter. Millennium Management LLC lifted its stake in SMART Global by 115.4% in the 4th quarter. Millennium Management LLC now owns 411,925 shares of the company’s stock valued at $29,243,000 after purchasing an additional 220,663 shares during the last quarter. Finally, Foundry Partners LLC lifted its stake in SMART Global by 328.9% in the 1st quarter. Foundry Partners LLC now owns 234,935 shares of the company’s stock valued at $6,068,000 after purchasing an additional 180,160 shares during the last quarter. Institutional investors own 52.61% of the company’s stock.

SMART Global Stock Down 1.6 %

SGH opened at $19.19 on Wednesday. SMART Global Holdings, Inc. has a twelve month low of $15.10 and a twelve month high of $37.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.53 and a current ratio of 2.22. The business’s fifty day moving average price is $20.13. The firm has a market capitalization of $959.31 million, a PE ratio of 15.54 and a beta of 1.37.

SMART Global (NASDAQ:SGHGet Rating) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $462.54 million during the quarter, compared to analysts’ expectations of $455.02 million. SMART Global had a net margin of 3.64% and a return on equity of 48.23%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $0.54 earnings per share. Sell-side analysts anticipate that SMART Global Holdings, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity

In other SMART Global news, CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction dated Tuesday, July 26th. The stock was purchased at an average cost of $18.10 per share, for a total transaction of $181,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 915,255 shares of the company’s stock, valued at $16,566,115.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other SMART Global news, CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction dated Tuesday, July 26th. The stock was purchased at an average cost of $18.10 per share, for a total transaction of $181,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 915,255 shares of the company’s stock, valued at $16,566,115.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ken Rizvi acquired 4,250 shares of SMART Global stock in a transaction dated Tuesday, July 26th. The shares were acquired at an average price of $17.85 per share, with a total value of $75,862.50. Following the completion of the acquisition, the chief financial officer now directly owns 125,348 shares of the company’s stock, valued at $2,237,461.80. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Needham & Company LLC dropped their price target on shares of SMART Global from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of SMART Global from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Stifel Nicolaus dropped their price target on shares of SMART Global from $45.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Rosenblatt Securities dropped their price target on shares of SMART Global from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Finally, TheStreet raised shares of SMART Global from a “c+” rating to a “b-” rating in a research note on Thursday, June 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $36.00.

About SMART Global

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SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

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Institutional Ownership by Quarter for SMART Global (NASDAQ:SGH)

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