Smart Global Holdings Inc (NASDAQ:SGH) shares traded up 0% on Thursday . The stock traded as high as $42.89 and last traded at $42.16. 1,053,587 shares changed hands during mid-day trading, an increase of 158% from the average session volume of 408,684 shares. The stock had previously closed at $42.16.
Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Smart Global from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Zacks Investment Research cut shares of Smart Global from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price target on shares of Smart Global in a report on Thursday, January 18th. Stifel Nicolaus upped their price target on shares of Smart Global from $40.00 to $47.00 and gave the company a “buy” rating in a report on Saturday, December 30th. Finally, Roth Capital upped their price target on shares of Smart Global to $50.00 and gave the company a “buy” rating in a report on Friday, December 22nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.19.
The company has a debt-to-equity ratio of 1.50, a current ratio of 1.43 and a quick ratio of 0.97.
Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, December 21st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.03 million. The business’s revenue for the quarter was up 66.6% compared to the same quarter last year. sell-side analysts expect that Smart Global Holdings Inc will post 4.76 earnings per share for the current year.
In related news, VP Jack A. Pacheco sold 7,500 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $31.06, for a total transaction of $232,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kiwan Kim sold 52,835 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $35.62, for a total transaction of $1,881,982.70. The disclosure for this sale can be found here. Insiders have sold 111,833 shares of company stock valued at $3,962,951 in the last 90 days. 6.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SGH. Nationwide Fund Advisors bought a new stake in Smart Global during the third quarter worth $268,000. Boston Partners bought a new stake in Smart Global during the third quarter worth $6,691,000. Rhumbline Advisers bought a new stake in Smart Global during the third quarter worth $387,000. Bank of New York Mellon Corp bought a new stake in Smart Global during the third quarter worth $1,544,000. Finally, SG Americas Securities LLC bought a new stake in Smart Global during the third quarter worth $103,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
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About Smart Global
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.
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