SMART Global Holdings, Inc. (NASDAQ:SGH) Sees Large Increase in Short Interest

SMART Global Holdings, Inc. (NASDAQ:SGH) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,990,000 shares, a growth of 40.5% from the March 15th total of 2,840,000 shares. Based on an average trading volume of 1,020,000 shares, the short-interest ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Needham & Company LLC raised their price target on shares of SMART Global from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, Director Penny Herscher sold 2,525 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $22.62, for a total transaction of $57,115.50. Following the sale, the director now owns 12,713 shares in the company, valued at approximately $287,568.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Penny Herscher sold 2,525 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the transaction, the director now owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jack A. Pacheco sold 2,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $22.52, for a total transaction 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 approximately $4,954,557.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,428 shares of company stock worth $167,147. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SGH. GAMMA Investing LLC boosted its holdings in SMART Global by 42.9% during the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after purchasing an additional 469 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in SMART Global by 65.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company’s stock worth $26,000 after purchasing an additional 641 shares during the last quarter. Captrust Financial Advisors boosted its holdings in SMART Global by 162.9% during the first quarter. Captrust Financial Advisors now owns 2,003 shares of the company’s stock worth $52,000 after purchasing an additional 1,241 shares during the last quarter. Point72 Middle East FZE purchased a new position in SMART Global during the fourth quarter worth about $32,000. Finally, Tower Research Capital LLC TRC boosted its holdings in SMART Global by 93.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,434 shares of the company’s stock worth $55,000 after purchasing an additional 1,662 shares during the last quarter.

SMART Global Stock Up 0.5 %

NASDAQ:SGH opened at $19.54 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.11 and a current ratio of 3.30. The firm has a fifty day simple moving average of $22.98 and a two-hundred day simple moving average of $20.02. SMART Global has a 12 month low of $12.66 and a 12 month high of $29.99.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, January 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 15.79% and a positive return on equity of 11.82%. The business’s revenue was down 30.0% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. As a group, sell-side analysts expect that SMART Global will post 0.64 earnings per share for the current year.

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.