ValuEngine upgraded shares of Smart Global (NASDAQ:SGH) from a sell rating to a hold rating in a report published on Tuesday morning.
SGH has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Smart Global from a hold rating to a buy rating and set a $32.00 price target on the stock in a research report on Thursday, October 11th. Stifel Nicolaus increased their price target on shares of Smart Global from $61.00 to $62.00 and gave the company a buy rating in a research report on Friday, October 5th. Deutsche Bank reduced their price target on shares of Smart Global from $60.00 to $50.00 and set a buy rating on the stock in a research report on Friday, October 5th. Roth Capital reduced their price target on shares of Smart Global from $70.00 to $60.00 and set a buy rating on the stock in a research report on Friday, October 5th. Finally, BidaskClub cut shares of Smart Global from a buy rating to a hold rating in a research report on Saturday, July 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $52.71.
Shares of NASDAQ SGH opened at $29.53 on Tuesday. Smart Global has a one year low of $26.26 and a one year high of $56.69. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.82. The company has a market cap of $714.73 million, a price-to-earnings ratio of 4.92, a price-to-earnings-growth ratio of 0.32 and a beta of -0.43.
Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, October 4th. The company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.06. Smart Global had a net margin of 9.27% and a return on equity of 100.35%. The business had revenue of $373.97 million for the quarter, compared to analysts’ expectations of $368.51 million. During the same period last year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 67.7% on a year-over-year basis. As a group, sell-side analysts predict that Smart Global will post 6.61 EPS for the current fiscal year.
In other news, insider Alan Marten sold 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $29.15, for a total value of $256,520.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Bruce M. Goldberg sold 4,131 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $31.91, for a total transaction of $131,820.21. The disclosure for this sale can be found here. Insiders sold 160,390 shares of company stock worth $5,119,145 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Several institutional investors have recently modified their holdings of SGH. BlackRock Inc. grew its holdings in shares of Smart Global by 38.7% in the first quarter. BlackRock Inc. now owns 554,481 shares of the company’s stock worth $27,635,000 after purchasing an additional 154,757 shares during the last quarter. Hillcrest Asset Management LLC purchased a new stake in Smart Global in the second quarter worth $3,624,000. American Century Companies Inc. purchased a new stake in Smart Global in the second quarter worth $3,423,000. Hennessy Advisors Inc. purchased a new stake in Smart Global in the second quarter worth $3,101,000. Finally, Wells Fargo & Company MN lifted its stake in Smart Global by 603.5% in the first quarter. Wells Fargo & Company MN now owns 111,807 shares of the company’s stock worth $5,572,000 after acquiring an additional 95,914 shares during the period. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Smart Global Company Profile
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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