SMART Global (NASDAQ:SGH) Earns “Buy” Rating from Stifel Nicolaus

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $27.50 price objective on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 19.25% from the company’s previous close.

Other research analysts have also issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price target on shares of SMART Global in a report on Tuesday, May 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research note on Wednesday.

SMART Global Stock Performance

NASDAQ:SGH traded up $0.13 during midday trading on Wednesday, hitting $23.06. The company’s stock had a trading volume of 96,429 shares, compared to its average volume of 1,016,537. SMART Global has a fifty-two week low of $12.66 and a fifty-two week high of $28.18. The firm’s 50 day moving average is $20.69 and its 200-day moving average is $21.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. The firm has a market cap of $1.21 billion, a P/E ratio of -6.32 and a beta of 1.69.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. The firm had revenue of $284.82 million for the quarter, compared to analyst estimates of $285.18 million. Equities analysts anticipate that SMART Global will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SMART Global news, CEO Mark Adams acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Adams bought 10,000 shares of SMART Global stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the transaction, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SMART Global

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in SMART Global by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock worth $185,246,000 after buying an additional 203,197 shares during the period. Dimensional Fund Advisors LP lifted its position in SMART Global by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock worth $28,084,000 after buying an additional 37,256 shares during the period. LSV Asset Management lifted its position in SMART Global by 26.3% during the first quarter. LSV Asset Management now owns 874,300 shares of the company’s stock worth $23,012,000 after buying an additional 182,200 shares during the period. UBS Group AG lifted its position in SMART Global by 7,076.7% during the fourth quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after buying an additional 850,764 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in SMART Global by 0.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 832,795 shares of the company’s stock worth $20,279,000 after buying an additional 6,098 shares during the period.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.