Needham & Company LLC Boosts SMART Global (NASDAQ:SGH) Price Target to $27.00

SMART Global (NASDAQ:SGH) had its price target increased by Needham & Company LLC from $24.00 to $27.00 in a report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

SMART Global Price Performance

NASDAQ:SGH opened at $19.54 on Wednesday. SMART Global has a 1-year low of $12.66 and a 1-year high of $29.99. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.11. The firm has a fifty day simple moving average of $22.98 and a 200 day simple moving average of $20.02.

SMART Global (NASDAQ:SGH) last released its earnings results on Tuesday, January 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.08. SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The business had revenue of $274.25 million during the quarter, compared to analysts’ expectations of $275.00 million. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue was down 30.0% on a year-over-year basis. On average, sell-side analysts expect that SMART Global will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other SMART Global news, insider Joseph Gates Clark sold 2,403 shares of SMART Global stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total transaction of $53,731.08. Following the completion of the transaction, the insider now directly owns 95,895 shares of the company’s stock, valued at $2,144,212.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the sale, the director now owns 12,713 shares of the company’s stock, valued at $287,568.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Gates Clark sold 2,403 shares of SMART Global stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $22.36, for a total value of $53,731.08. Following the sale, the insider now directly owns 95,895 shares of the company’s stock, valued at approximately $2,144,212.20. The disclosure for this sale can be found here. Insiders sold a total of 7,428 shares of company stock valued at $167,147 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in SMART Global by 42.9% in the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after acquiring an additional 469 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in SMART Global in the first quarter valued at about $896,000. Nomura Holdings Inc. grew its position in SMART Global by 41.1% in the fourth quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock valued at $4,442,000 after acquiring an additional 68,315 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in SMART Global in the fourth quarter valued at about $307,000. Finally, Vanguard Group Inc. grew its position in 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 during the last quarter.

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.