SMART Global Holdings, Inc. (NASDAQ:SGH) Shares Bought by Point72 DIFC Ltd

Point72 DIFC Ltd lifted its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 201.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,281 shares of the company’s stock after buying an additional 8,205 shares during the period. Point72 DIFC Ltd’s holdings in SMART Global were worth $281,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. UBS Group AG increased its stake in SMART Global by 7,076.7% during the 4th 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. Vanguard Group Inc. grew its stake in shares of SMART Global by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after acquiring an additional 810,022 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of SMART Global during the second quarter worth about $9,205,000. American Century Companies Inc. lifted its stake in shares of SMART Global by 69.5% in the second quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock worth $18,354,000 after acquiring an additional 328,934 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in SMART Global by 331.9% in the first quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock valued at $6,836,000 after purchasing an additional 199,585 shares during the last quarter.

Insider Transactions at SMART Global

In related news, COO Jack A. Pacheco sold 13,333 shares of the business’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 owns 211,896 shares in the company, valued at approximately $4,907,511.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SMART Global news, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $20.02, for a total value of $266,946.68. Following the completion of the transaction, the chief operating officer now owns 211,896 shares in the company, valued at approximately $4,242,157.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jack A. Pacheco sold 13,333 shares of SMART Global stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $23.16, for a total value of $308,792.28. Following the sale, the chief operating officer now directly owns 211,896 shares in the company, valued at approximately $4,907,511.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,527 shares of company stock worth $1,062,413. 2.30% of the stock is currently owned by company insiders.

SMART Global Stock Performance

SMART Global stock opened at $21.15 on Friday. 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 12 month low of $12.66 and a 12 month high of $29.81. The company has a fifty day moving average price of $20.54 and a two-hundred day moving average price of $21.56. The company has a market cap of $1.12 billion, a PE ratio of -6.87 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, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $300.58 million during the quarter, compared to analyst estimates of $300.00 million. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Research analysts expect that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.