Needham & Company LLC Reiterates “Buy” Rating for SMART Global (NASDAQ:SGH)

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued on Monday, Benzinga reports. They presently have a $27.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 50.59% from the company’s current price.

Separately, Stifel Nicolaus increased their target price on SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a research note on Wednesday, April 10th.

SMART Global Stock Performance

SGH stock opened at $17.93 on Monday. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. The business’s fifty day simple moving average is $22.49 and its two-hundred day simple moving average is $19.67. SMART Global has a twelve month low of $12.66 and a twelve month high of $29.99. The firm has a market cap of $937.74 million, a price-to-earnings ratio of -4.87 and a beta of 1.74.

Insider Transactions at SMART Global

In other news, CEO Mark Adams purchased 10,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, with a total value of $187,900.00. Following the transaction, the chief executive officer now owns 29,640 shares of the company’s stock, valued at $556,935.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Penny Herscher sold 2,525 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the sale, the director now owns 12,713 shares of the company’s stock, valued at $287,568.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Adams acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the transaction, the chief executive officer now owns 29,640 shares of the company’s stock, valued at $556,935.60. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SMART Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in SMART Global by 813.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 30,127 shares of the company’s stock valued at $793,000 after buying an additional 26,830 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in SMART Global in the first quarter valued at about $279,000. GAMMA Investing LLC raised its stake 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 buying an additional 469 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in SMART Global in the first quarter valued at about $896,000. Finally, Nomura Holdings Inc. raised its stake 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 buying an additional 68,315 shares during the last quarter.

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.