Thrivent Financial for Lutherans Cuts Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Thrivent Financial for Lutherans cut its stake in SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,873 shares of the company’s stock after selling 1,804 shares during the quarter. Thrivent Financial for Lutherans owned about 0.10% of SMART Global worth $742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SGH. Vanguard Group Inc. grew its stake in SMART Global by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,540,412 shares of the company’s stock worth $72,056,000 after buying an additional 222,867 shares during the last quarter. State Street Corp lifted its position in SMART Global by 1.9% during the 3rd quarter. State Street Corp now owns 2,822,430 shares of the company’s stock worth $44,792,000 after acquiring an additional 52,397 shares during the period. Clearbridge Investments LLC lifted its position in SMART Global by 323.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,563,323 shares of the company’s stock worth $40,381,000 after acquiring an additional 1,194,012 shares during the period. Dimensional Fund Advisors LP lifted its position in SMART Global by 93.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,369,486 shares of the company’s stock worth $35,375,000 after acquiring an additional 662,841 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in SMART Global by 97.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,062,370 shares of the company’s stock worth $27,441,000 after acquiring an additional 525,616 shares during the period.

Analysts Set New Price Targets

A number of analysts have commented on the company. Stifel Nicolaus lowered their price target on SMART Global from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, April 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price target on shares of SMART Global in a report on Wednesday, April 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of SMART Global in a research note on Wednesday, April 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $25.40.

SMART Global Trading Down 0.4 %

SGH opened at $20.39 on Thursday. SMART Global Holdings, Inc. has a one year low of $12.04 and a one year high of $25.40. The stock has a market capitalization of $1.00 billion, a PE ratio of 52.28 and a beta of 1.43. The business’s 50 day moving average price is $16.57 and its 200 day moving average price is $16.58. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.63 and a current ratio of 2.33.

Insider Activity at SMART Global

In other SMART Global news, SVP Thierry Pellegrino sold 2,764 shares of the company’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $15.98, for a total transaction of $44,168.72. Following the transaction, the senior vice president now directly owns 74,951 shares in the company, valued at $1,197,716.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SMART Global news, SVP Thierry Pellegrino sold 2,764 shares of the company’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $15.98, for a total transaction of $44,168.72. Following the transaction, the senior vice president now directly owns 74,951 shares in the company, valued at $1,197,716.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jack A. Pacheco sold 2,500 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the transaction, the chief operating officer now owns 205,511 shares in the company, valued at $4,110,220. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,264 shares of company stock worth $194,169. Insiders own 3.70% of the company’s stock.

About SMART Global

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SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets. 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: Memory Solutions, Intelligent Platform Solutions (IPS), and LED Solutions.