SMART Global Holdings, Inc. (NASDAQ:SGH) Stake Boosted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 29.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,213 shares of the company’s stock after buying an additional 12,313 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of SMART Global worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of SMART Global by 331.9% in the first quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock worth $6,836,000 after purchasing an additional 199,585 shares during the period. Nomura Holdings Inc. lifted its position in SMART Global by 41.1% during the 4th quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock valued at $4,442,000 after purchasing an additional 68,315 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of SMART Global by 35.6% in the 1st quarter. First Eagle Investment Management LLC now owns 411,044 shares of the company’s stock valued at $10,819,000 after purchasing an additional 107,850 shares during the period. Inspire Investing LLC increased its stake in SMART Global by 120.0% in the first quarter. Inspire Investing LLC now owns 49,151 shares of the company’s stock valued at $1,294,000 after purchasing an additional 26,807 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of SMART Global by 26.3% in the 1st quarter. LSV Asset Management now owns 874,300 shares of the company’s stock valued at $23,012,000 after purchasing an additional 182,200 shares during the period.

SMART Global Stock Performance

Shares of SGH stock traded down $0.56 during trading on Thursday, reaching $22.76. 906,711 shares of the company’s stock traded hands, compared to its average volume of 1,093,691. The company has a market capitalization of $1.20 billion, a P/E ratio of -7.52 and a beta of 1.69. SMART Global Holdings, Inc. has a 1 year low of $12.66 and a 1 year high of $29.81. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average is $22.84 and its 200 day moving average is $21.94.

SMART Global (NASDAQ:SGH) last issued its earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The firm had revenue of $300.58 million for the quarter, compared to analysts’ expectations of $300.00 million. During the same quarter last year, the business earned $0.46 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. Equities research analysts expect that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Insider Activity at SMART Global

In related news, insider Joseph Gates Clark sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $29.00, for a total value of $145,000.00. Following the completion of the transaction, the insider now owns 87,386 shares of the company’s stock, valued at approximately $2,534,194. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SGH. Needham & Company LLC raised their price objective on SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their price objective on SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of SMART Global in a report on Wednesday, July 3rd. Finally, Barclays upped their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $32.25.

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.