Insider Selling: SMART Global Holdings, Inc. (NASDAQ:SGH) COO Sells 13,334 Shares of Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $20.02, for a total value of $266,946.68. Following the sale, the chief operating officer now directly owns 211,896 shares in the company, valued at $4,242,157.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SMART Global Trading Up 2.4 %

SMART Global stock traded up $0.46 during mid-day trading on Tuesday, hitting $19.81. The company’s stock had a trading volume of 1,249,596 shares, compared to its average volume of 1,072,842. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. The company has a 50 day moving average of $20.80 and a 200-day moving average of $21.60. SMART Global Holdings, Inc. has a one year low of $12.66 and a one year high of $29.81. The stock has a market cap of $1.05 billion, a PE ratio of -6.28 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of SMART Global

A number of large investors have recently modified their holdings of the company. UBS Group AG lifted its stake in SMART Global by 7,076.7% in the fourth quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after acquiring an additional 850,764 shares during the period. Vanguard Group Inc. raised its holdings in shares of SMART Global by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after purchasing an additional 810,022 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of SMART Global in the 2nd quarter valued at about $9,205,000. American Century Companies Inc. lifted its position in shares of SMART Global by 69.5% in the 2nd quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock worth $18,354,000 after purchasing an additional 328,934 shares during the period. Finally, 1492 Capital Management LLC bought a new position in shares of SMART Global during the fourth quarter valued at approximately $4,153,000.

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.