New York Life Investment Management LLC Has $502,000 Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

New York Life Investment Management LLC lessened its holdings in SMART Global Holdings, Inc. (NASDAQ:SGHFree Report) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,620 shares of the company’s stock after selling 3,286 shares during the quarter. New York Life Investment Management LLC’s holdings in SMART Global were worth $502,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SGH. Illinois Municipal Retirement Fund bought a new stake in shares of SMART Global in the 3rd quarter valued at about $702,000. Bank of New York Mellon Corp increased its position in SMART Global by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 396,528 shares of the company’s stock valued at $11,503,000 after purchasing an additional 6,068 shares during the period. Marshall Wace LLP bought a new position in SMART Global during the 2nd quarter worth approximately $34,634,000. SG Americas Securities LLC lifted its position in shares of SMART Global by 33.5% in the 3rd quarter. SG Americas Securities LLC now owns 133,768 shares of the company’s stock worth $3,257,000 after purchasing an additional 33,552 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of SMART Global by 85.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company’s stock valued at $93,000 after purchasing an additional 1,757 shares during the last quarter.

Analysts Set New Price Targets

SGH has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on shares of SMART Global from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. TheStreet lowered SMART Global from a “b-” rating to a “c-” rating in a research report on Wednesday, November 1st. Stifel Nicolaus cut their price target on SMART Global from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research note on Thursday, October 19th.

Get Our Latest Report on SMART Global

Insider Activity at SMART Global

In other SMART Global news, insider Joseph Gates Clark sold 2,403 shares of SMART Global stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total transaction of $53,731.08. Following the transaction, the insider now directly owns 95,895 shares of the company’s stock, valued at approximately $2,144,212.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Jack A. Pacheco sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $22.52, for a total value of $56,300.00. Following the completion of the transaction, the chief operating officer now directly owns 220,007 shares of the company’s stock, valued at $4,954,557.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Gates Clark sold 2,403 shares of SMART Global stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $22.36, for a total value of $53,731.08. Following the sale, the insider now owns 95,895 shares in the company, valued at $2,144,212.20. The disclosure for this sale can be found here. In the last three months, insiders sold 12,403 shares of company stock valued at $266,781. 2.30% of the stock is owned by insiders.

SMART Global Trading Up 3.9 %

Shares of NASDAQ:SGH opened at $22.85 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.11 and a debt-to-equity ratio of 1.80. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.99. The business’s 50 day simple moving average is $19.66 and its two-hundred day simple moving average is $20.55.

SMART Global (NASDAQ:SGHGet Free Report) last posted its earnings results on Tuesday, January 9th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The company had revenue of $274.25 million for the quarter, compared to analyst estimates of $275.00 million. SMART Global had a negative net margin of 15.14% and a positive return on equity of 20.15%. The firm’s revenue was down 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. As a group, equities analysts forecast that SMART Global Holdings, Inc. will post 0.62 EPS for the current year.

SMART Global Profile

(Free Report)

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.

See Also

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

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