Clearbridge Investments LLC Cuts Stock Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Clearbridge Investments LLC trimmed its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 693,309 shares of the company’s stock after selling 14,379 shares during the quarter. Clearbridge Investments LLC’s holdings in SMART Global were worth $15,856,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SGH. Nomura Holdings Inc. boosted its position in SMART Global by 41.1% in the 4th quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock valued at $4,442,000 after buying an additional 68,315 shares during the period. Vanguard Group Inc. raised its stake in shares of SMART Global by 13.4% in 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. HighPoint Advisor Group LLC purchased a new position in SMART Global in the fourth quarter valued at $307,000. Los Angeles Capital Management LLC acquired a new position in SMART Global during the 1st quarter worth $896,000. Finally, GAMMA Investing LLC increased its holdings in SMART Global by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after purchasing an additional 469 shares during the period.

SMART Global Stock Performance

Shares of SMART Global stock opened at $20.60 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 52 week low of $12.66 and a 52 week high of $29.81. The firm’s 50 day moving average is $20.10 and its two-hundred day moving average is $21.46. The firm has a market capitalization of $1.09 billion, a P/E ratio of -6.69 and a beta of 1.67.

SMART Global (NASDAQ:SGH) last announced 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. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The firm had revenue of $300.58 million for the quarter, compared to analyst estimates of $300.00 million. During the same period last year, the business earned $0.46 EPS. SMART Global’s revenue for the quarter was down 12.7% compared to the same quarter last year. Research analysts forecast that SMART Global Holdings, Inc. will post 0.7 EPS for the current fiscal year.

Insider Transactions at SMART Global

In other SMART Global news, 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 sale, the chief operating officer now owns 211,896 shares in the company, valued at approximately $4,242,157.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SMART Global news, COO Jack A. Pacheco sold 13,333 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.14, for a total transaction of $281,859.62. Following the completion of the sale, the chief operating officer now directly owns 211,896 shares of the company’s stock, valued at $4,479,481.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of SMART Global stock in a transaction that occurred on 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 $4,242,157.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,527 shares of company stock worth $1,062,413. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Needham & Company LLC boosted their price target 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. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research report on Wednesday, July 3rd. Finally, Barclays lifted their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.