Dark Forest Capital Management LP Boosts Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Dark Forest Capital Management LP lifted its stake in SMART Global Holdings, Inc. (NASDAQ:SGH) by 5.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,103 shares of the company’s stock after buying an additional 843 shares during the quarter. Dark Forest Capital Management LP’s holdings in SMART Global were worth $391,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in SMART Global by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after buying an additional 469 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in SMART Global by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the company’s stock worth $601,000 after buying an additional 600 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in SMART Global by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,784 shares of the company’s stock worth $635,000 after buying an additional 723 shares in the last quarter. American International Group Inc. increased its holdings in SMART Global by 5.2% in the 1st quarter. American International Group Inc. now owns 27,847 shares of the company’s stock worth $733,000 after buying an additional 1,376 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in SMART Global by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 154,867 shares of the company’s stock worth $3,542,000 after buying an additional 2,854 shares in the last quarter.

SMART Global Trading Up 0.7 %

SMART Global stock opened at $21.30 on Friday. The business has a 50-day simple moving average of $20.42 and a two-hundred day simple moving average of $21.54. The company has a market cap of $1.13 billion, a P/E ratio of -6.92 and a beta of 1.67. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.81. 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 (NASDAQ:SGH) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The firm had revenue of $300.58 million for the quarter, compared to analysts’ expectations of $300.00 million. During the same period in the previous year, the firm earned $0.46 EPS. The business’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts predict that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Insider Activity

In other news, insider Joseph Gates Clark sold 2,527 shares of SMART Global stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total transaction of $59,814.09. Following the transaction, the insider now directly owns 82,518 shares of the company’s stock, valued at approximately $1,953,201.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Joseph Gates Clark sold 2,527 shares of SMART Global stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total transaction of $59,814.09. Following the transaction, the insider now directly owns 82,518 shares of the company’s stock, valued at approximately $1,953,201.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief operating officer now directly owns 211,896 shares in the company, valued at $4,242,157.92. The disclosure for this sale can be found here. Insiders have sold a total of 47,527 shares of company stock valued at $1,062,413 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

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

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.