Smart Global (NASDAQ:SGH) Earns Buy Rating from Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Smart Global (NASDAQ:SGH) in a research report sent to investors on Friday, December 22nd, Marketbeat reports. Stifel Nicolaus currently has a $47.00 target price on the stock, up from their prior target price of $40.00.

A number of other equities analysts have also commented on SGH. Citigroup raised their price objective on shares of Smart Global to $35.00 and gave the stock a buy rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Barclays raised their price objective on shares of Smart Global from $19.00 to $28.00 and gave the stock a positive rating in a research note on Friday, September 29th. Jefferies Group reaffirmed a buy rating and issued a $28.50 price objective (up previously from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Deutsche Bank reaffirmed a buy rating and issued a $28.00 price objective (up previously from $25.00) on shares of Smart Global in a research note on Monday, October 2nd. Finally, Needham & Company LLC raised their price objective on shares of Smart Global from $23.00 to $33.00 and gave the stock a buy rating in a research note on Monday, October 2nd. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Smart Global has a consensus rating of Buy and a consensus target price of $39.19.

Shares of Smart Global (NASDAQ:SGH) traded up $0.08 during trading hours on Friday, reaching $34.63. 328,288 shares of the company were exchanged, compared to its average volume of 869,094. The company has a market capitalization of $753.23 and a PE ratio of 62.96. Smart Global has a 1 year low of $11.50 and a 1 year high of $43.15. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 1.50.

Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.13. The business had revenue of $265.40 million for the quarter, compared to the consensus estimate of $255.03 million. The business’s revenue for the quarter was up 66.6% compared to the same quarter last year. research analysts predict that Smart Global will post 4.76 earnings per share for the current fiscal year.

In other Smart Global news, Director Sandeep Nayyar sold 7,148 shares of Smart Global stock in a transaction on Monday, November 20th. The shares were sold at an average price of $35.20, for a total transaction of $251,609.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mukesh Patel sold 33,458 shares of Smart Global stock in a transaction on Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $1,074,001.80. The disclosure for this sale can be found here. Insiders have sold a total of 3,319,457 shares of company stock valued at $106,789,483 in the last three months. Company insiders own 6.90% of the company’s stock.

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new stake in shares of Smart Global during the 2nd quarter valued at $429,000. Citadel Advisors LLC acquired a new stake in shares of Smart Global during the 3rd quarter valued at $573,000. Rhumbline Advisers acquired a new stake in shares of Smart Global during the 3rd quarter valued at $387,000. Symphony Asset Management LLC acquired a new stake in shares of Smart Global during the 2nd quarter valued at $1,286,000. Finally, Empyrean Capital Partners LP acquired a new stake in shares of Smart Global during the 2nd quarter valued at $1,741,000. 91.84% of the stock is owned by institutional investors.

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Smart Global Company Profile

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 (NASDAQ:SGH)

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