Roth Capital Boosts Smart Global Holdings Inc (SGH) Price Target to $42.00

Smart Global Holdings Inc (NYSE:SGH) had its price target upped by Roth Capital from $30.00 to $42.00 in a report released on Wednesday. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on SGH. Needham & Company LLC boosted their target price on Smart Global Holdings from $23.00 to $33.00 and gave the stock a buy rating in a research report on Monday, October 2nd. Stifel Nicolaus initiated coverage on Smart Global Holdings in a research report on Monday, June 19th. They issued a buy rating and a $27.00 target price for the company. Deutsche Bank AG initiated coverage on Smart Global Holdings in a research report on Monday, June 19th. They issued a buy rating and a $18.00 target price for the company. Barclays PLC boosted their target price on Smart Global Holdings from $19.00 to $28.00 and gave the stock a positive rating in a research report on Friday, September 29th. Finally, Zacks Investment Research upgraded Smart Global Holdings from a hold rating to a strong-buy rating and set a $34.00 target price for the company in a research report on Thursday, October 5th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $33.21.

Smart Global Holdings (NYSE:SGH) traded down 3.11% on Wednesday, hitting $33.70. The stock had a trading volume of 548,946 shares. Smart Global Holdings has a 1-year low of $9.92 and a 1-year high of $38.24. The company has a 50-day moving average price of $24.70 and a 200-day moving average price of $19.24. The stock’s market capitalization is $722.33 million.

Smart Global Holdings (NYSE:SGH) last released its earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. The company’s revenue was up 52.5% compared to the same quarter last year. Equities analysts predict that Smart Global Holdings will post $3.21 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in SGH. Stifel Financial Corp bought a new stake in Smart Global Holdings in the second quarter valued at approximately $169,000. Spark Investment Management LLC bought a new stake in Smart Global Holdings in the second quarter valued at approximately $184,000. Laurion Capital Management LP bought a new stake in Smart Global Holdings in the second quarter valued at approximately $324,000. Goldman Sachs Group Inc. bought a new stake in Smart Global Holdings in the second quarter valued at approximately $429,000. Finally, Symphony Asset Management LLC bought a new stake in Smart Global Holdings in the second quarter valued at approximately $1,286,000.

About Smart Global Holdings

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

Analyst Recommendations for Smart Global Holdings (NYSE:SGH)

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