Davidson Kempner Capital Management LP Purchases Shares of 43,725 SMART Global Holdings, Inc. (NASDAQ:SGH)

Davidson Kempner Capital Management LP acquired a new position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 43,725 shares of the company’s stock, valued at approximately $1,000,000.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake 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 acquiring an additional 469 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of SMART Global by 32,469.2% during the fourth 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. Ashton Thomas Private Wealth LLC purchased a new stake in SMART Global in the second quarter valued at approximately $141,000. Mutual of America Capital Management LLC acquired a new position in SMART Global in the 1st quarter worth approximately $235,000. Finally, ProShare Advisors LLC purchased a new position in SMART Global during the 1st quarter worth approximately $274,000.

Analyst Ratings Changes

SGH has been the topic of a number of research reports. Needham & Company LLC increased their price objective 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. Stifel Nicolaus increased their price target on SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a research 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 report on Wednesday, July 3rd. Finally, Barclays raised their target price on SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, SMART Global presently has a consensus rating of “Buy” and an average price target of $32.25.

SMART Global Trading Down 0.5 %

Shares of SMART Global stock opened at $19.70 on Monday. The firm has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $21.63. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. SMART Global Holdings, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $29.81. The company has a market cap of $1.04 billion, a P/E ratio of -6.40 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 company had revenue of $300.58 million during 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%. SMART Global’s quarterly 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. As a group, equities analysts predict that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other SMART Global news, COO Jack A. Pacheco sold 13,333 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.14, for a total transaction of $281,859.62. Following the completion of the transaction, the chief operating officer now directly owns 211,896 shares in the company, valued at $4,479,481.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Jack A. Pacheco sold 13,333 shares of SMART Global stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.14, for a total value of $281,859.62. Following the sale, the chief operating officer now directly owns 211,896 shares in the company, valued at approximately $4,479,481.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Gates Clark sold 2,527 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $23.67, for a total value 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 disclosure for this sale can be found here. Insiders have sold 34,193 shares of company stock worth $795,466 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

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.