Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $51.30 and last traded at $49.78, with a volume of 11163 shares. The stock had previously closed at $49.48.
The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate of $295.57 million. SMART Global had a return on equity of 16.65% and a net margin of 0.06%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS.
SGH has been the subject of several analyst reports. Needham & Company LLC upped their target price on SMART Global from $56.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. TheStreet upgraded SMART Global from a “c+” rating to a “b-” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on SMART Global from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their target price on SMART Global from $55.00 to $62.50 and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded SMART Global from a “sell” rating to a “hold” rating in a report on Wednesday, March 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.58.
In related news, EVP Kiwan Kim sold 12,500 shares of the stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $42.91, for a total transaction of $536,375.00. Following the transaction, the executive vice president now owns 57,685 shares of the company’s stock, valued at approximately $2,475,263.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jack A. Pacheco sold 3,750 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $46.25, for a total value of $173,437.50. Following the transaction, the chief financial officer now directly owns 95,206 shares in the company, valued at approximately $4,403,277.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,792 shares of company stock valued at $1,554,692. Company insiders own 4.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in SMART Global by 287.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,711 shares of the company’s stock worth $64,000 after acquiring an additional 1,269 shares in the last quarter. Vantage Consulting Group Inc acquired a new position in SMART Global during the 4th quarter worth about $73,000. Public Employees Retirement System of Ohio acquired a new position in SMART Global during the 4th quarter worth about $134,000. Citigroup Inc. lifted its stake in SMART Global by 274.1% during the 4th quarter. Citigroup Inc. now owns 3,610 shares of the company’s stock worth $136,000 after acquiring an additional 2,645 shares in the last quarter. Finally, Bailard Inc. acquired a new position in SMART Global during the 4th quarter worth about $211,000.
The company has a 50 day moving average of $46.57 and a 200-day moving average of $36.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.46 and a current ratio of 1.98. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 30.14 and a beta of 0.97.
SMART Global Company Profile (NASDAQ:SGH)
SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. It offers dynamic random access memory (DRAM) modules for desktops, notebooks, and servers; and embedded and removable flash memory products; and flash component products, such as embedded multimedia controllers, and embedded and removal products in USB, CompactFlash and SD/microSD card configurations.
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