Insider Selling: SMART Global Holdings, Inc. (NASDAQ:SGH) COO Sells $308,792.28 in Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,333 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $23.16, for a total transaction of $308,792.28. Following the completion of the transaction, the chief operating officer now directly owns 211,896 shares of the company’s stock, valued at $4,907,511.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

SMART Global Stock Down 7.9 %

Shares of NASDAQ:SGH opened at $21.55 on Friday. The firm has a fifty day moving average price of $23.13 and a two-hundred day moving average price of $22.05. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. SMART Global Holdings, Inc. has a one year low of $12.66 and a one year high of $29.81. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -7.00 and a beta of 1.69.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The firm had revenue of $300.58 million for the quarter, compared to analysts’ expectations of $300.00 million. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. Analysts anticipate that SMART Global Holdings, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a report on Wednesday, July 3rd. Stifel Nicolaus raised their price target on shares of SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Needham & Company LLC raised their price target on shares of SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.25.

Institutional Trading of SMART Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of SMART Global by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after buying an additional 469 shares in the last quarter. TFO Wealth Partners LLC raised its position in shares of SMART Global by 32,469.2% during the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock valued at $80,000 after buying an additional 4,221 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of SMART Global during the 1st quarter valued at $235,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SMART Global by 48.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company’s stock worth $245,000 after purchasing an additional 4,253 shares during the period. Finally, ProShare Advisors LLC purchased a new position in SMART Global in the 1st quarter worth $274,000.

About SMART Global

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.