SMART Global (NASDAQ:SGH) Rating Reiterated by Needham & Company LLC

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $27.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 41.21% from the stock’s current price.

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

SMART Global Stock Performance

NASDAQ:SGH opened at $19.12 on Tuesday. The stock has a market cap of $999.92 million, a P/E ratio of -5.20 and a beta of 1.80. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $22.00 and its two-hundred day moving average price is $19.68. SMART Global has a twelve month low of $12.66 and a twelve month high of $29.99.

SMART Global (NASDAQ:SGH) last announced its earnings results 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 company had revenue of $284.82 million for the quarter, compared to the consensus estimate of $285.18 million. As a group, equities analysts predict that SMART Global will post 0.64 EPS for the current fiscal year.

Insider Activity at SMART Global

In other news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction dated 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 $287,568.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Penny Herscher sold 2,525 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the sale, the director now owns 12,713 shares of the company’s stock, valued at $287,568.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Adams bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the purchase, the chief executive officer now owns 29,640 shares of the company’s stock, valued at $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Institutional Trading of SMART Global

A number of institutional investors have recently modified their holdings of SGH. Vanguard Group Inc. raised its position in SMART Global by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after purchasing an additional 810,022 shares during the last quarter. FMR LLC lifted its stake in SMART Global by 66.3% in the third quarter. FMR LLC now owns 2,209,647 shares of the company’s stock worth $53,805,000 after acquiring an additional 880,971 shares during the period. Dimensional Fund Advisors LP boosted its holdings in SMART Global by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock valued at $28,084,000 after acquiring an additional 37,256 shares in the last quarter. LSV Asset Management increased its position in SMART Global by 26.3% during the 1st quarter. LSV Asset Management now owns 874,300 shares of the company’s stock valued at $23,012,000 after purchasing an additional 182,200 shares during the period. Finally, UBS Group AG raised its holdings in SMART Global by 7,076.7% in the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after purchasing an additional 850,764 shares in the last quarter.

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.