Ashton Thomas Private Wealth LLC Purchases Shares of 6,157 SMART Global Holdings, Inc. (NASDAQ:SGH)

Ashton Thomas Private Wealth LLC purchased a new stake in SMART Global Holdings, Inc. (NASDAQ:SGH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,157 shares of the company’s stock, valued at approximately $141,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of SMART Global by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after acquiring an additional 469 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of SMART Global by 32,469.2% in the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock valued at $80,000 after acquiring an additional 4,221 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of SMART Global in the 1st quarter valued at about $235,000. ProShare Advisors LLC purchased a new stake in shares of SMART Global in the 1st quarter valued at about $274,000. Finally, Griffin Asset Management Inc. purchased a new stake in shares of SMART Global in the 1st quarter valued at about $279,000.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other SMART Global news, 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 value of $145,000.00. Following the transaction, the insider now directly owns 87,386 shares of the company’s stock, valued at approximately $2,534,194. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value of $145,000.00. Following the sale, the insider now directly owns 87,386 shares in the company, valued at approximately $2,534,194. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jack A. Pacheco sold 13,333 shares of SMART Global stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $23.16, for a total value of $308,792.28. Following the completion of the sale, the chief operating officer now owns 211,896 shares in the company, valued at $4,907,511.36. The disclosure for this sale can be found here. Insiders have sold 34,193 shares of company stock valued at $795,466 in the last ninety days. Company insiders own 2.30% of the company’s stock.

SMART Global Stock Performance

Shares of NASDAQ SGH opened at $19.42 on Friday. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The stock’s 50-day moving average is $21.74 and its 200 day moving average is $21.73. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -6.31 and a beta of 1.67. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.81.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 EPS 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 business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts anticipate that SMART Global Holdings, Inc. will post 0.7 EPS for the current fiscal year.

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.