Smart Global (SGH) Price Target Cut to $50.00

Smart Global (NASDAQ:SGH) had its price objective lowered by Stifel Nicolaus from $62.00 to $50.00 in a research report report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on SGH. ValuEngine raised Smart Global from a sell rating to a hold rating in a report on Tuesday, October 16th. BidaskClub cut Smart Global from a hold rating to a sell rating in a report on Wednesday, October 24th. Barclays dropped their price target on Smart Global from $55.00 to $40.00 and set an overweight rating for the company in a report on Tuesday, October 23rd. Needham & Company LLC reaffirmed a hold rating on shares of Smart Global in a report on Wednesday. Finally, Zacks Investment Research lowered Smart Global from a buy rating to a hold rating in a research report on Wednesday, December 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Smart Global presently has an average rating of Hold and a consensus price target of $47.50.

Shares of SGH opened at $24.60 on Wednesday. Smart Global has a 1 year low of $22.50 and a 1 year high of $56.69. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $546.46 million, a PE ratio of 4.10, a P/E/G ratio of 0.24 and a beta of 1.04.

Smart Global (NASDAQ:SGH) last issued its earnings results on Tuesday, January 8th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.17). Smart Global had a return on equity of 83.61% and a net margin of 9.13%. The company had revenue of $393.90 million during the quarter, compared to analyst estimates of $382.23 million. During the same period in the previous year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 48.4% on a year-over-year basis. As a group, equities research analysts expect that Smart Global will post 6.61 earnings per share for the current year.

In other news, Director Iain Mackenzie sold 52,404 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $35.03, for a total value of $1,835,712.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mukesh Patel sold 39,339 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $31.86, for a total value of $1,253,340.54. The disclosure for this sale can be found here. Insiders sold a total of 282,482 shares of company stock worth $8,813,724 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Several large investors have recently bought and sold shares of SGH. Russell Investments Group Ltd. boosted its position in shares of Smart Global by 117.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 90,341 shares of the company’s stock worth $2,870,000 after purchasing an additional 48,706 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Smart Global by 42.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 71,859 shares of the company’s stock worth $2,291,000 after purchasing an additional 21,313 shares during the last quarter. BlackRock Inc. boosted its position in shares of Smart Global by 20.7% in the 2nd quarter. BlackRock Inc. now owns 669,382 shares of the company’s stock worth $21,333,000 after purchasing an additional 114,901 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Smart Global in the 2nd quarter worth $285,000. Finally, Federated Investors Inc. PA boosted its position in shares of Smart Global by 7,160.9% in the 2nd quarter. Federated Investors Inc. PA now owns 31,585 shares of the company’s stock worth $1,007,000 after purchasing an additional 31,150 shares during the last quarter. Institutional investors and hedge funds own 83.06% 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.

Further Reading: Liquidity

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