SMART Global (NASDAQ:SGH) Upgraded to “B-” at TheStreet

TheStreet upgraded shares of SMART Global (NASDAQ:SGH) from a c rating to a b- rating in a research note issued to investors on Tuesday morning, TheStreetRatingsTable reports.

Several other brokerages have also recently weighed in on SGH. Deutsche Bank Aktiengesellschaft lifted their price target on SMART Global from $66.00 to $70.00 and gave the company a buy rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on SMART Global from $62.50 to $66.00 and gave the company a buy rating in a research report on Wednesday, July 7th. They noted that the move was a valuation call. Jefferies Financial Group lifted their price objective on SMART Global from $65.00 to $72.00 and gave the company a buy rating in a research note on Wednesday, July 7th. Needham & Company LLC lifted their price objective on SMART Global from $75.00 to $85.00 and gave the company a buy rating in a research note on Wednesday. Finally, Zacks Investment Research raised SMART Global from a hold rating to a buy rating and set a $57.00 price objective for the company in a research note on Tuesday, July 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, SMART Global has an average rating of Buy and a consensus target price of $66.43.

NASDAQ:SGH opened at $51.72 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.64 and a quick ratio of 1.05. The business has a fifty day simple moving average of $46.62 and a two-hundred day simple moving average of $47.73. SMART Global has a 1 year low of $24.37 and a 1 year high of $58.39. The company has a market capitalization of $1.25 billion, a P/E ratio of 166.84 and a beta of 0.94.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Monday, October 11th. The company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.56. The company had revenue of $467.71 million during the quarter, compared to analysts’ expectations of $461.00 million. SMART Global had a return on equity of 25.39% and a net margin of 0.62%. The firm’s quarterly revenue was up 57.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, analysts anticipate that SMART Global will post 3.52 earnings per share for the current year.

In other SMART Global news, Director Ajay Shah sold 11,647 shares of SMART Global stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $45.00, for a total transaction of $524,115.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 7,500 shares of SMART Global stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $46.98, for a total value of $352,350.00. Following the sale, the chief operating officer now directly owns 97,909 shares of the company’s stock, valued at approximately $4,599,764.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,647 shares of company stock valued at $1,192,140. Corporate insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in SMART Global during the 1st quarter valued at about $7,757,000. First Trust Advisors LP increased its holdings in SMART Global by 3.6% during the 1st quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock valued at $446,000 after purchasing an additional 798 shares during the period. Swiss National Bank increased its holdings in SMART Global by 3.1% during the 1st quarter. Swiss National Bank now owns 33,500 shares of the company’s stock valued at $1,542,000 after purchasing an additional 1,000 shares during the period. UBS Group AG purchased a new position in SMART Global during the 1st quarter valued at about $1,182,000. Finally, JPMorgan Chase & Co. increased its holdings in SMART Global by 99.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,043,749 shares of the company’s stock valued at $48,033,000 after purchasing an additional 520,794 shares during the period.

SMART Global Company Profile

SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).

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Analyst Recommendations for SMART Global (NASDAQ:SGH)

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