Point72 Asia Singapore Pte. Ltd. Purchases 4,307 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

Point72 Asia Singapore Pte. Ltd. lifted its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 5,593.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,384 shares of the company’s stock after purchasing an additional 4,307 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in SMART Global were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of SMART Global by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after buying an additional 469 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in 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 acquiring an additional 4,221 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in SMART Global in the second quarter worth about $141,000. Mutual of America Capital Management LLC bought a new position in shares of SMART Global during the first quarter valued at approximately $235,000. Finally, ProShare Advisors LLC purchased a new position in shares of SMART Global during the first quarter valued at approximately $274,000.

Insider Activity

In related news, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 211,896 shares in the company, valued at $4,242,157.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SMART Global news, 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 sale, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,907,511.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jack A. Pacheco sold 13,334 shares of the 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 transaction, the chief operating officer now owns 211,896 shares of the company’s stock, 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 worth $1,062,413 over the last quarter. Insiders own 2.30% of the company’s stock.

SMART Global Stock Up 0.7 %

SGH stock opened at $21.30 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -6.92 and a beta of 1.67. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.81. The business has a fifty day moving average price of $20.42 and a 200-day moving average price of $21.54.

SMART Global (NASDAQ:SGH) last released its quarterly earnings data 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 firm had revenue of $300.58 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. Equities analysts forecast that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

SMART Global 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.