SMART Global (NASDAQ:SGH) Stock Rating Reaffirmed by Rosenblatt Securities

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $35.00 price objective on the stock. Rosenblatt Securities’ price target suggests a potential upside of 53.04% from the stock’s current price.

A number of other brokerages have also weighed in on SGH. Needham & Company LLC restated a “buy” rating and issued a $27.00 price objective on shares of SMART Global in a report on Tuesday, May 7th. Stifel Nicolaus boosted their price objective on shares of SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a report on Wednesday, April 10th.

SMART Global Trading Up 0.8 %

Shares of SMART Global stock opened at $22.87 on Thursday. SMART Global has a 1 year low of $12.66 and a 1 year high of $29.99. The firm has a market cap of $1.20 billion, a PE ratio of -6.21 and a beta of 1.76. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. The company has a 50 day simple moving average of $20.48 and a two-hundred day simple moving average of $21.09.

SMART Global (NASDAQ:SGH) last announced its earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $284.82 million for the quarter, compared to the consensus estimate of $285.18 million. SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. Analysts expect that SMART Global will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total value of $45,370.26. Following the transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction on Thursday, April 11th. The shares were acquired at an average cost 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 in the company, valued at $556,935.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph Gates Clark sold 2,529 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the transaction, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SGH. FMR LLC increased its position in SMART Global by 66.3% during the 3rd quarter. FMR LLC now owns 2,209,647 shares of the company’s stock valued at $53,805,000 after purchasing an additional 880,971 shares during the period. UBS Group AG boosted its holdings in shares of SMART Global by 7,076.7% during the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock valued at $16,333,000 after buying an additional 850,764 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SMART Global by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after buying an additional 810,022 shares in the last quarter. 1492 Capital Management LLC bought a new stake in shares of SMART Global during the 4th quarter valued at $4,153,000. Finally, Russell Investments Group Ltd. boosted 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 valued at $6,836,000 after buying an additional 199,585 shares in 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.