Smith Group Asset Management LLC Takes $368,000 Position in SMART Global Holdings, Inc. (NASDAQ:SGH)

Smith Group Asset Management LLC bought a new stake in SMART Global Holdings, Inc. (NASDAQ:SGH) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 13,963 shares of the company’s stock, valued at approximately $368,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SGH. UBS Group AG lifted its position in SMART Global by 7,076.7% during the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after buying an additional 850,764 shares in the last quarter. Vanguard Group Inc. lifted its position in SMART Global by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock worth $129,387,000 after buying an additional 810,022 shares in the last quarter. 1492 Capital Management LLC acquired a new position in SMART Global during the 4th quarter worth about $4,153,000. Deutsche Bank AG lifted its position in SMART Global by 46.3% during the 3rd quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after buying an additional 152,918 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in SMART Global by 75.6% during the 4th quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock worth $4,447,000 after buying an additional 101,159 shares in the last quarter.

Insider Activity

In other news, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the sale, the insider now directly owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SMART Global news, CEO Mark Adams bought 10,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $18.79 per share, with a total value of $187,900.00. Following the purchase, the chief executive officer now owns 29,640 shares in the company, valued at $556,935.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now directly owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

SMART Global Trading Up 0.5 %

NASDAQ:SGH traded up $0.12 on Friday, hitting $23.22. 552,156 shares of the stock were exchanged, compared to its average volume of 995,991. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -6.31 and a beta of 1.69. SMART Global Holdings, Inc. has a 52 week low of $12.66 and a 52 week high of $27.88. 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 company’s 50-day moving average price is $20.99 and its 200 day moving average price is $21.25.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The company had revenue of $284.82 million during 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%. On average, equities research analysts forecast that SMART Global Holdings, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SGH shares. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price target on shares of SMART Global in a research report on Tuesday, May 7th. Rosenblatt Securities reissued a “buy” rating and set a $35.00 price objective on shares of SMART Global in a report on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $27.50 price objective on shares of SMART Global in a report on Wednesday.

SMART Global 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.