Allspring Global Investments Holdings LLC Sells 2,846 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

Allspring Global Investments Holdings LLC reduced its holdings in SMART Global Holdings, Inc. (NASDAQ:SGH) by 46.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,297 shares of the company’s stock after selling 2,846 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SMART Global were worth $62,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SGH. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of SMART Global by 85.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company’s stock valued at $93,000 after buying an additional 1,757 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SMART Global during the 3rd quarter valued at $217,000. Aigen Investment Management LP purchased a new stake in SMART Global during the third quarter valued at about $226,000. Raymond James & Associates grew its stake in shares of SMART Global by 19.0% during the fourth quarter. Raymond James & Associates now owns 14,683 shares of the company’s stock valued at $278,000 after buying an additional 2,340 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of SMART Global in the third quarter worth about $284,000.

SMART Global Stock Up 1.1 %

NASDAQ SGH opened at $18.55 on Tuesday. SMART Global Holdings, Inc. has a 1 year low of $12.66 and a 1 year high of $29.99. The stock has a market capitalization of $970.11 million, a PE ratio of -5.04 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’s 50-day moving average is $22.27 and its 200 day moving average is $19.50.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC reissued a “buy” rating and set a $27.00 price objective on shares of SMART Global in a research note on Monday, April 22nd.

Insiders Place Their Bets

In other SMART Global news, CEO Mark Adams purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the purchase, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mark Adams acquired 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average cost of $18.79 per share, with a total value of $187,900.00. Following the transaction, the chief executive officer now 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 available at this link. Also, Director Penny Herscher sold 2,525 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the transaction, the director now owns 12,713 shares in the company, valued at approximately $287,568.06. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

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.