Pacific Ridge Capital Partners LLC Raises Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Pacific Ridge Capital Partners LLC increased its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 85.2% in the 2nd quarter, Holdings Channel reports. The firm owned 36,062 shares of the company’s stock after buying an additional 16,595 shares during the period. Pacific Ridge Capital Partners LLC’s holdings in SMART Global were worth $825,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in SGH. GAMMA Investing LLC lifted its stake in SMART Global by 42.9% in the first 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 last quarter. TFO Wealth Partners LLC boosted its stake in SMART Global by 32,469.2% during the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after purchasing an additional 4,221 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in SMART Global by 5,593.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,384 shares of the company’s stock worth $100,000 after purchasing an additional 4,307 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in SMART Global in the 2nd quarter valued at about $141,000. Finally, Mutual of America Capital Management LLC acquired a new stake in SMART Global during the 1st quarter worth approximately $235,000.

Insider Activity

In other SMART Global news, insider Joseph Gates Clark sold 5,000 shares of SMART Global stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now owns 87,386 shares in the company, valued at $2,534,194. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $20.02, for a total transaction of $266,946.68. Following the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at $4,242,157.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Gates Clark sold 5,000 shares of SMART Global stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now directly owns 87,386 shares of the company’s stock, valued at $2,534,194. The disclosure for this sale can be found here. Insiders sold a total of 47,527 shares of company stock worth $1,062,413 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

SMART Global Stock Performance

NASDAQ:SGH opened at $21.30 on Friday. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. SMART Global Holdings, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $29.81. The firm’s fifty day simple moving average is $20.47 and its 200-day simple moving average is $21.56. The stock has a market cap of $1.13 billion, a PE ratio of -6.92 and a beta of 1.67.

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

Analyst Ratings Changes

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