Iain Mackenzie Sells 45,000 Shares of Smart Global Holdings Inc (SGH) Stock

Smart Global Holdings Inc (NASDAQ:SGH) Director Iain Mackenzie sold 45,000 shares of Smart Global stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $29.25, for a total value of $1,316,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Iain Mackenzie also recently made the following trade(s):

  • On Friday, October 5th, Iain Mackenzie sold 31,684 shares of Smart Global stock. The shares were sold at an average price of $35.01, for a total value of $1,109,256.84.

NASDAQ:SGH opened at $29.42 on Wednesday. The company has a market capitalization of $701.00 million, a P/E ratio of 4.90, a PEG ratio of 0.31 and a beta of 0.26. Smart Global Holdings Inc has a 1-year low of $25.84 and a 1-year high of $56.69. The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 0.98.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, October 4th. The company reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.06. The company had revenue of $373.97 million during the quarter, compared to the consensus estimate of $368.51 million. Smart Global had a return on equity of 92.01% and a net margin of 9.27%. Smart Global’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. On average, equities analysts forecast that Smart Global Holdings Inc will post 6.61 EPS for the current fiscal year.

A number of analysts have recently issued reports on the company. Roth Capital dropped their price target on Smart Global from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 5th. BidaskClub upgraded Smart Global from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Zacks Investment Research downgraded Smart Global from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, ValuEngine upgraded Smart Global from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $50.57.

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in Smart Global by 43.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,475 shares of the company’s stock worth $372,000 after buying an additional 2,265 shares during the last quarter. Macquarie Group Ltd. lifted its position in Smart Global by 13.2% in the 2nd quarter. Macquarie Group Ltd. now owns 20,600 shares of the company’s stock worth $657,000 after buying an additional 2,400 shares during the last quarter. Engineers Gate Manager LP lifted its position in Smart Global by 27.6% in the 2nd quarter. Engineers Gate Manager LP now owns 11,400 shares of the company’s stock worth $363,000 after buying an additional 2,465 shares during the last quarter. Chicago Equity Partners LLC increased its stake in Smart Global by 2.4% in the 3rd quarter. Chicago Equity Partners LLC now owns 147,130 shares of the company’s stock worth $4,229,000 after purchasing an additional 3,420 shares during the period. Finally, Millennium Management LLC increased its stake in Smart Global by 9.9% in the 2nd quarter. Millennium Management LLC now owns 44,705 shares of the company’s stock worth $1,425,000 after purchasing an additional 4,029 shares during the period. Institutional investors own 84.60% of the company’s stock.

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About Smart Global

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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