Swiss National Bank Lowers Stock Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Swiss National Bank cut its holdings in SMART Global Holdings, Inc. (NASDAQ:SGH) by 10.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 98,600 shares of the company’s stock after selling 11,400 shares during the period. Swiss National Bank owned 0.19% of SMART Global worth $1,866,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in SMART Global by 75.6% during the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock worth $4,447,000 after purchasing an additional 101,159 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of SMART Global by 46.3% during the 3rd quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after buying an additional 152,918 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of SMART Global in the 3rd quarter worth $1,994,000. American Century Companies Inc. raised its position in shares of SMART Global by 42.3% in the 3rd quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock worth $7,133,000 after buying an additional 87,035 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in SMART Global during the third quarter valued at about $702,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of SMART Global in a research note on Tuesday, May 7th. 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 report on Wednesday, April 10th.

SMART Global Price Performance

Shares of NASDAQ SGH opened at $20.54 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.99. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.58 and a beta of 1.80. The business has a 50-day moving average of $21.26 and a 200-day moving average of $20.17.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) 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 firm had revenue of $284.82 million during the quarter, compared to analyst estimates of $285.18 million. On average, equities analysts anticipate that SMART Global Holdings, Inc. will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling at SMART Global

In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 92,386 shares in the company, valued at approximately $1,657,404.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the transaction, the insider now directly owns 92,386 shares in the company, valued at approximately $1,657,404.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Adams bought 10,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was bought 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 directly owns 29,640 shares in the company, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

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.