SMART Global (NASDAQ:SGH) Receives Buy Rating from Needham & Company LLC

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $27.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 59.57% from the stock’s previous close.

Separately, Stifel Nicolaus boosted their price objective on SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a research report on Wednesday, April 10th.

SMART Global Trading Down 4.5 %

NASDAQ:SGH opened at $16.92 on Monday. SMART Global has a 12-month low of $12.66 and a 12-month high of $29.99. The firm has a market capitalization of $884.92 million, a P/E ratio of -4.60 and a beta of 1.74. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. The business has a 50 day simple moving average of $22.67 and a 200 day simple moving average of $19.76.

Insiders Place Their Bets

In other SMART Global news, insider Joseph Gates Clark sold 2,403 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $22.36, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark Adams acquired 10,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was acquired at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,640 shares in the company, valued at approximately $556,935.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Gates Clark sold 2,403 shares of the company’s stock in a transaction 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 sale, the insider now owns 95,895 shares of the company’s stock, valued at approximately $2,144,212.20. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Institutional Trading of SMART Global

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of SMART Global by 42.9% in the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after buying an additional 469 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of SMART Global by 2.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,624 shares of the company’s stock valued at $504,000 after buying an additional 588 shares during the period. California State Teachers Retirement System lifted its holdings in shares of SMART Global by 1.1% in the second quarter. California State Teachers Retirement System now owns 59,263 shares of the company’s stock valued at $1,719,000 after buying an additional 627 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of SMART Global by 65.4% in the third 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 during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of SMART Global by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 25,499 shares of the company’s stock valued at $483,000 after buying an additional 695 shares during the period.

About SMART Global

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.