Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 48.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,963 shares of the company’s stock after purchasing an additional 4,253 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SMART Global were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SGH. Skandinaviska Enskilda Banken AB publ bought a new stake in SMART Global in the 3rd quarter worth approximately $217,000. Aigen Investment Management LP bought a new stake in SMART Global in the 3rd quarter worth approximately $226,000. Raymond James & Associates increased its stake in SMART Global by 19.0% in the 4th quarter. Raymond James & Associates now owns 14,683 shares of the company’s stock worth $278,000 after acquiring an additional 2,340 shares during the last quarter. Graham Capital Management L.P. bought a new stake in SMART Global in the 3rd quarter worth approximately $284,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in SMART Global by 9.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 13,200 shares of the company’s stock worth $321,000 after acquiring an additional 1,119 shares during the last quarter.

Insider Activity at SMART Global

In related news, insider Joseph Gates Clark sold 2,529 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the transaction, the insider now owns 92,386 shares in the company, valued at approximately $1,657,404.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Mark Adams bought 10,000 shares of the stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the acquisition, the chief executive officer now owns 29,640 shares of the company’s stock, valued at $556,935.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the sale, the insider now owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

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

SMART Global Stock Performance

NASDAQ SGH opened at $18.58 on Tuesday. The company has a market cap of $971.73 million, a P/E ratio of -5.05 and a beta of 1.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. The business’s 50 day moving average price is $22.08 and its 200-day moving average price is $19.65. SMART Global Holdings, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $29.99.

SMART Global (NASDAQ:SGH) last released its earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The company had revenue of $284.82 million for the quarter, compared to the consensus estimate of $285.18 million. Sell-side analysts predict that SMART Global Holdings, Inc. will post 0.64 earnings per share for the current year.

SMART Global 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.