SMART Global (NASDAQ:SGH) Given Buy Rating at Rosenblatt Securities

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $35.00 target price on the stock. Rosenblatt Securities’ price target suggests a potential upside of 52.64% from the stock’s current price.

Several other analysts have also weighed in on SGH. Stifel Nicolaus lifted their price objective on SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price target on shares of SMART Global in a research note on Tuesday, May 7th.

SMART Global Price Performance

Shares of SMART Global stock opened at $22.93 on Wednesday. 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 company has a market cap of $1.20 billion, a PE ratio of -6.23 and a beta of 1.69. The firm has a fifty day moving average price of $20.69 and a two-hundred day moving average price of $21.19. SMART Global has a fifty-two week low of $12.66 and a fifty-two week high of $29.09.

SMART Global (NASDAQ:SGH) last announced 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 negative net margin of 15.79% and a positive return on equity of 11.82%. The company had revenue of $284.82 million for the quarter, compared to analyst estimates of $285.18 million. Analysts expect that SMART Global will post 0.59 EPS for the current year.

Insider Buying and Selling at SMART Global

In related news, CEO Mark Adams acquired 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the purchase, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Joseph Gates Clark sold 2,529 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at approximately $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 purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost 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 in the company, valued at $556,935.60. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SMART Global

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of SMART Global by 42.9% in 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 during the period. SummerHaven Investment Management LLC raised its holdings in SMART Global by 2.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 26,624 shares of the company’s stock worth $504,000 after purchasing an additional 588 shares during the last quarter. Yousif Capital Management LLC raised its holdings in SMART Global by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 25,499 shares of the company’s stock worth $483,000 after purchasing an additional 695 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of SMART Global by 2.5% in the 4th quarter. State of Alaska Department of Revenue now owns 31,940 shares of the company’s stock valued at $604,000 after purchasing an additional 767 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of SMART Global by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 270,169 shares of the company’s stock valued at $5,114,000 after purchasing an additional 838 shares during the last quarter.

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.