Rosenblatt Securities Reaffirms “Buy” Rating for SMART Global (NASDAQ:SGH)

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating restated by Rosenblatt Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $35.00 target price on the stock. Rosenblatt Securities’ price objective points to a potential upside of 51.52% from the company’s current price.

A number of other research analysts have also weighed in on SGH. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of SMART Global in a report on Tuesday, May 7th. Stifel Nicolaus lifted their price objective on shares of 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 Trading Up 0.7 %

SGH stock opened at $23.10 on Wednesday. The firm has a fifty day moving average price of $20.80 and a 200 day moving average price of $21.20. SMART Global has a fifty-two week low of $12.66 and a fifty-two week high of $28.18. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. The firm has a market cap of $1.21 billion, a PE ratio of -6.28 and a beta of 1.69.

SMART Global (NASDAQ:SGH) last posted its earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The business had revenue of $284.82 million during the quarter, compared to analysts’ expectations of $285.18 million. Sell-side analysts anticipate that SMART Global will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the sale, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the sale, the insider now directly owns 92,386 shares in the company, valued at $1,657,404.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Adams bought 10,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Institutional Trading of SMART Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of SMART Global by 75.6% in the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock valued at $4,447,000 after acquiring an additional 101,159 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of SMART Global by 46.3% in the third quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock valued at $11,760,000 after acquiring an additional 152,918 shares in the last quarter. Nomura Holdings Inc. raised its holdings in shares of 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 in the last quarter. American Century Companies Inc. raised its holdings in shares of SMART Global by 42.3% in the third quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock valued at $7,133,000 after acquiring an additional 87,035 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of SMART Global by 11.1% in the third quarter. Vanguard Group Inc. now owns 6,024,986 shares of the company’s stock valued at $146,708,000 after acquiring an additional 603,294 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.