Vanguard Group Inc. Grows Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Vanguard Group Inc. increased its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,024,986 shares of the company’s stock after acquiring an additional 603,294 shares during the quarter. Vanguard Group Inc. owned approximately 11.62% of SMART Global worth $146,708,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in SMART Global by 1.1% during the second quarter. California State Teachers Retirement System now owns 59,263 shares of the company’s stock valued at $1,719,000 after acquiring an additional 627 shares during the period. Public Employees Retirement System of Ohio boosted its stake in SMART Global by 65.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company’s stock valued at $26,000 after buying an additional 641 shares in the last quarter. Van ECK Associates Corp grew its position in SMART Global by 4.0% in the third quarter. Van ECK Associates Corp now owns 19,320 shares of the company’s stock valued at $470,000 after acquiring an additional 735 shares during the period. Sei Investments Co. raised its stake in SMART Global by 0.5% during the fourth quarter. Sei Investments Co. now owns 165,447 shares of the company’s stock worth $2,462,000 after acquiring an additional 771 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of SMART Global by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 151,964 shares of the company’s stock valued at $3,700,000 after purchasing an additional 787 shares in the last quarter.

Analyst Ratings Changes

Separately, Needham & Company LLC boosted their price target on shares of SMART Global from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th.

SMART Global Stock Up 0.2 %

Shares of NASDAQ:SGH opened at $26.38 on Tuesday. SMART Global Holdings, Inc. has a 12 month low of $12.66 and a 12 month high of $29.99. The company’s 50-day moving average price is $22.50 and its two-hundred day moving average price is $19.95. The firm has a market cap of $1.37 billion, a P/E ratio of -6.64 and a beta of 1.74. The company has a quick ratio of 2.11, a current ratio of 2.68 and a debt-to-equity ratio of 1.80.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Tuesday, January 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.08. The firm had revenue of $274.25 million during the quarter, compared to analysts’ expectations of $275.00 million. SMART Global had a negative net margin of 15.14% and a positive return on equity of 20.15%. SMART Global’s revenue was down 30.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, research analysts forecast that SMART Global Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Joseph Gates Clark sold 2,403 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total value of $53,731.08. Following the completion of the transaction, the insider now directly owns 95,895 shares in the company, valued at approximately $2,144,212.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SMART Global news, Director Penny Herscher sold 2,525 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $22.62, for a total value of $57,115.50. Following the transaction, the director now directly owns 12,713 shares in the company, valued at $287,568.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Gates Clark sold 2,403 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total value of $53,731.08. Following the completion of the transaction, the insider now owns 95,895 shares in the company, valued at approximately $2,144,212.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,928 shares of company stock worth $323,897. 2.30% of the stock is owned by corporate insiders.

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.