57,673 Shares in Smart Global Holdings Inc (NASDAQ:SGH) Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in Smart Global Holdings Inc (NASDAQ:SGH) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 57,673 shares of the company’s stock, valued at approximately $1,544,000. Bank of New York Mellon Corp owned about 0.26% of Smart Global as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Strs Ohio bought a new position in Smart Global during the third quarter worth about $158,000. Nationwide Fund Advisors bought a new position in Smart Global during the third quarter worth about $268,000. Stifel Financial Corp bought a new position in Smart Global during the second quarter worth about $169,000. Rhumbline Advisers bought a new position in Smart Global during the third quarter worth about $387,000. Finally, Laurion Capital Management LP bought a new position in Smart Global during the second quarter worth about $324,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Shares of Smart Global Holdings Inc (NASDAQ SGH) opened at $35.75 on Wednesday. Smart Global Holdings Inc has a 1 year low of $11.50 and a 1 year high of $43.15. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 1.50.

Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.13. The firm had revenue of $265.40 million during the quarter, compared to analyst estimates of $255.03 million. Smart Global’s revenue was up 66.6% on a year-over-year basis. research analysts anticipate that Smart Global Holdings Inc will post 4.76 EPS for the current year.

In other news, SVP Kiwan Kim sold 52,835 shares of Smart Global stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.62, for a total transaction of $1,881,982.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce M. Goldberg sold 2,500 shares of Smart Global stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.76, for a total value of $89,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,319,457 shares of company stock worth $106,789,483 in the last ninety days. Insiders own 6.90% of the company’s stock.

A number of brokerages have issued reports on SGH. Stifel Nicolaus raised their target price on Smart Global from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. Needham & Company LLC lifted their price objective on Smart Global from $43.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday, December 26th. Roth Capital lifted their price objective on Smart Global to $50.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Deutsche Bank lifted their price objective on Smart Global to $45.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, Citigroup lifted their price objective on Smart Global to $35.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Smart Global has a consensus rating of “Buy” and an average price target of $39.19.

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Smart Global Profile

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

Institutional Ownership by Quarter for Smart Global (NASDAQ:SGH)

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