Smart Global (NASDAQ:SGH) Now Covered by Stifel Nicolaus

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Investment analysts at Stifel Nicolaus assumed coverage on shares of Smart Global (NASDAQ:SGH) in a research note issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently commented on the company. BidaskClub raised Smart Global from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Zacks Investment Research downgraded Smart Global from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 10th. ValuEngine downgraded Smart Global from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Deutsche Bank reissued a “buy” rating and set a $30.00 price objective (down from $36.00) on shares of Smart Global in a research report on Friday, October 4th. They noted that the move was a valuation call. Finally, TheStreet raised Smart Global from a “d+” rating to a “c” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Smart Global currently has an average rating of “Buy” and a consensus target price of $35.83.

SGH traded up $0.88 on Wednesday, hitting $32.33. 180,800 shares of the company’s stock were exchanged, compared to its average volume of 180,147. The company has a current ratio of 1.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.67. The stock has a market cap of $746.83 million, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.84 and a beta of 1.29. The firm has a 50-day moving average price of $28.77 and a 200-day moving average price of $25.99. Smart Global has a fifty-two week low of $16.94 and a fifty-two week high of $35.10.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The business had revenue of $278.40 million for the quarter, compared to analysts’ expectations of $285.05 million. Smart Global had a return on equity of 25.15% and a net margin of 4.24%. The firm’s revenue for the quarter was down 25.6% on a year-over-year basis. During the same quarter last year, the company earned $1.72 earnings per share. On average, equities analysts predict that Smart Global will post 2.51 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. BW Gestao de Investimentos Ltda. raised its stake in shares of Smart Global by 2.4% during the third quarter. BW Gestao de Investimentos Ltda. now owns 18,603 shares of the company’s stock worth $474,000 after purchasing an additional 441 shares during the last quarter. Texas Permanent School Fund purchased a new stake in shares of Smart Global during the third quarter worth approximately $228,000. Comerica Bank raised its stake in shares of Smart Global by 6.7% during the third quarter. Comerica Bank now owns 12,220 shares of the company’s stock worth $361,000 after purchasing an additional 764 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Smart Global by 8.2% during the third quarter. Rhumbline Advisers now owns 40,854 shares of the company’s stock worth $1,041,000 after purchasing an additional 3,091 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in shares of Smart Global by 8.5% during the third quarter. Virginia Retirement Systems ET AL now owns 20,500 shares of the company’s stock worth $522,000 after purchasing an additional 1,600 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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