Millennium Management LLC Has $3.59 Million Stock Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Millennium Management LLC grew its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 384.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,793 shares of the company’s stock after purchasing an additional 124,429 shares during the period. Millennium Management LLC owned about 0.30% of SMART Global worth $3,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of SMART Global by 331.9% during the 1st quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock worth $6,836,000 after purchasing an additional 199,585 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of SMART Global by 41.1% in the 4th quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock worth $4,442,000 after acquiring an additional 68,315 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in SMART Global by 35.6% during the 1st quarter. First Eagle Investment Management LLC now owns 411,044 shares of the company’s stock worth $10,819,000 after purchasing an additional 107,850 shares during the last quarter. Inspire Investing LLC raised its stake in shares of SMART Global by 120.0% during the first quarter. Inspire Investing LLC now owns 49,151 shares of the company’s stock worth $1,294,000 after buying an additional 26,807 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of SMART Global by 17.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 393,596 shares of the company’s stock worth $10,359,000 after purchasing an additional 59,674 shares during the period.

Insider Transactions at SMART Global

In other SMART Global news, insider Joseph Gates Clark sold 2,527 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total value of $59,814.09. Following the sale, the insider now owns 82,518 shares in the company, valued at $1,953,201.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other SMART Global news, insider Joseph Gates Clark sold 2,527 shares of SMART Global stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $23.67, for a total transaction of $59,814.09. Following the completion of the transaction, the insider now directly owns 82,518 shares of the company’s stock, valued at $1,953,201.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jack A. Pacheco sold 13,333 shares of the stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,527 shares of company stock worth $917,413 in the last ninety days. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

SGH has been the topic of several research reports. Barclays boosted their target price on SMART Global from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Stifel Nicolaus increased their target price on shares of SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price target on shares of SMART Global in a research note on Wednesday, July 3rd. Finally, 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. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.25.

SMART Global Price Performance

Shares of SGH opened at $20.76 on Monday. 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 company’s fifty day simple moving average is $19.96 and its 200 day simple moving average is $21.23. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.81. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -6.74 and a beta of 1.67.

About SMART Global

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.