SMART Global (NASDAQ:SGH) Receives Buy Rating from Stifel Nicolaus

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $27.50 price objective on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 19.05% from the company’s previous close.

Several other analysts have also recently weighed in on SGH. Needham & Company LLC restated a “buy” rating and set a $27.00 price objective on shares of SMART Global in a research report on Tuesday, May 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a research report on Wednesday.

SMART Global Stock Up 0.7 %

SGH opened at $23.10 on Wednesday. The company has a 50 day moving average of $20.80 and a 200 day moving average of $21.20. The company has a market cap of $1.21 billion, a PE ratio of -6.28 and a beta of 1.69. SMART Global has a 12 month low of $12.66 and a 12 month high of $28.18. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $284.82 million during the quarter, compared to the consensus estimate of $285.18 million. On average, sell-side analysts expect that SMART Global will post 0.59 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SGH. GAMMA Investing LLC increased its holdings in SMART Global by 30.5% during the second quarter. GAMMA Investing LLC now owns 2,039 shares of the company’s stock valued at $47,000 after buying an additional 476 shares during the last quarter. Boston Partners bought a new position in shares of SMART Global in the first quarter worth approximately $5,198,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of SMART Global by 158.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 41,851 shares of the company’s stock worth $1,102,000 after purchasing an additional 25,627 shares during the period. Cetera Advisors LLC bought a new position in shares of SMART Global in the first quarter worth approximately $469,000. Finally, Kennedy Capital Management LLC boosted its position in shares of SMART Global by 33.3% during the first quarter. Kennedy Capital Management LLC now owns 480,037 shares of the company’s stock worth $12,635,000 after acquiring an additional 120,033 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.