Alliancebernstein L.P. purchased a new stake in shares of Smart Global Holdings Inc (NASDAQ:SGH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 51,378 shares of the company’s stock, valued at approximately $1,731,000.
Several other institutional investors have also added to or reduced their stakes in the company. Bogle Investment Management L P DE raised its holdings in Smart Global by 2,461.1% in the 4th quarter. Bogle Investment Management L P DE now owns 380,227 shares of the company’s stock worth $12,813,000 after acquiring an additional 365,381 shares during the period. Globeflex Capital L P bought a new position in Smart Global in the 4th quarter worth $1,207,000. Lazard Asset Management LLC bought a new position in Smart Global in the 4th quarter worth $351,000. Allianz Asset Management GmbH bought a new position in Smart Global in the 4th quarter worth $1,606,000. Finally, Spark Investment Management LLC bought a new position in Smart Global in the 4th quarter worth $1,617,000. Institutional investors and hedge funds own 85.67% of the company’s stock.
Several analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of Smart Global from $43.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 26th. BidaskClub upgraded shares of Smart Global from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Stifel Nicolaus restated a “buy” rating and issued a $47.00 price target (up from $40.00) on shares of Smart Global in a research report on Friday, December 22nd. Zacks Investment Research lowered shares of Smart Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Barclays raised their price target on shares of Smart Global from $40.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, March 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.19.
In other news, VP Bruce M. Goldberg sold 2,500 shares of Smart Global stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $43.20, for a total transaction of $108,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Alan Marten sold 8,700 shares of Smart Global stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $35.72, for a total transaction of $310,764.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,114,236 shares of company stock worth $95,273,590. 6.90% of the stock is owned by company insiders.
NASDAQ SGH opened at $45.17 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.08 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $963.39 and a price-to-earnings ratio of 22.14. Smart Global Holdings Inc has a 52-week low of $11.50 and a 52-week high of $56.69.
Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, March 22nd. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.40. Smart Global had a net margin of 5.50% and a return on equity of 100.66%. The business had revenue of $314.00 million for the quarter, compared to analyst estimates of $290.06 million. Smart Global’s revenue for the quarter was up 82.6% on a year-over-year basis. research analysts forecast that Smart Global Holdings Inc will post 5.94 EPS for the current fiscal year.
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Smart Global 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.
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