SMART Global Holdings, Inc. (NASDAQ:SGH) Receives $29.50 Average Price Target from Analysts

Shares of SMART Global Holdings, Inc. (NASDAQ:SGHGet Rating) have earned a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $29.50.

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft dropped their target price on SMART Global from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, October 5th. Rosenblatt Securities lowered their price target on SMART Global from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, October 5th. Barclays lowered their price target on SMART Global from $22.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. Needham & Company LLC lowered their price target on SMART Global from $30.00 to $23.00 in a report on Tuesday, October 25th. Finally, TheStreet downgraded SMART Global from a “b-” rating to a “c+” rating in a report on Monday, September 26th.

Insider Activity at SMART Global

In related news, SVP Thierry Pellegrino sold 8,426 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $17.23, for a total transaction of $145,179.98. Following the completion of the sale, the senior vice president now owns 85,729 shares in the company, valued at $1,477,110.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SMART Global news, Director Penny Herscher sold 2,156 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $16.11, for a total value of $34,733.16. Following the completion of the sale, the director now owns 5,484 shares in the company, valued at $88,347.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Thierry Pellegrino sold 8,426 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $17.23, for a total value of $145,179.98. Following the completion of the sale, the senior vice president now owns 85,729 shares of the company’s stock, valued at approximately $1,477,110.67. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Trading of SMART Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of SMART Global by 101.0% during the first quarter. Vanguard Group Inc. now owns 4,271,672 shares of the company’s stock worth $110,338,000 after purchasing an additional 2,146,056 shares in the last quarter. State Street Corp grew its position in shares of SMART Global by 103.3% during the first quarter. State Street Corp now owns 2,723,420 shares of the company’s stock worth $70,346,000 after purchasing an additional 1,383,982 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of SMART Global by 323.3% during the first quarter. Clearbridge Investments LLC now owns 1,563,323 shares of the company’s stock worth $40,381,000 after purchasing an additional 1,194,012 shares in the last quarter. Boston Partners grew its position in shares of SMART Global by 419.4% during the first quarter. Boston Partners now owns 964,013 shares of the company’s stock worth $21,963,000 after purchasing an additional 778,419 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of SMART Global by 93.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,369,486 shares of the company’s stock worth $35,375,000 after purchasing an additional 662,841 shares in the last quarter. Hedge funds and other institutional investors own 52.87% of the company’s stock.

SMART Global Trading Up 1.5 %

SMART Global stock opened at $17.14 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 1.61 and a debt-to-equity ratio of 1.56. The business’s fifty day simple moving average is $15.20 and its two-hundred day simple moving average is $18.37. SMART Global has a 12 month low of $12.04 and a 12 month high of $37.25. The company has a market capitalization of $833.35 million, a price-to-earnings ratio of 13.77 and a beta of 1.25.

SMART Global (NASDAQ:SGHGet Rating) last released its earnings results on Tuesday, October 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. SMART Global had a return on equity of 42.03% and a net margin of 3.66%. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.01 million. During the same period in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that SMART Global will post 1.5 earnings per share for the current fiscal year.

SMART Global Company Profile

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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 three segments: Memory Solutions, Intelligent Platform Solutions, and LED Solutions. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

Further Reading

Analyst Recommendations for SMART Global (NASDAQ:SGH)

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