Smart Global (SGH) Downgraded to Sell at BidaskClub

Smart Global (NASDAQ:SGH) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

A number of other equities research analysts have also weighed in on SGH. Roth Capital dropped their price target on Smart Global from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 29th. Zacks Investment Research lowered Smart Global from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 4th. TheStreet lowered Smart Global from a “c-” rating to a “d+” rating in a research note on Tuesday, April 30th. Barclays dropped their price target on Smart Global from $38.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, March 29th. Finally, Deutsche Bank dropped their price target on Smart Global from $38.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, March 29th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $40.00.

Shares of SGH stock opened at $20.18 on Tuesday. Smart Global has a fifty-two week low of $18.27 and a fifty-two week high of $51.63. The stock has a market cap of $462.67 million, a PE ratio of 3.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.39 and a current ratio of 1.92.



Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, March 28th. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.12). Smart Global had a return on equity of 61.87% and a net margin of 7.49%. The business had revenue of $304.10 million for the quarter, compared to analysts’ expectations of $317.27 million. During the same quarter in the previous year, the firm posted $1.73 EPS. Smart Global’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts predict that Smart Global will post 3.03 EPS for the current year.

In related news, Director Iain Mackenzie sold 10,000 shares of Smart Global stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $23.95, for a total transaction of $239,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bruce M. Goldberg sold 1,957 shares of Smart Global stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $30.71, for a total value of $60,099.47. The disclosure for this sale can be found here. Insiders have sold 35,957 shares of company stock worth $894,839 in the last 90 days. Insiders own 4.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc lifted its holdings in shares of Smart Global by 42.9% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the company’s stock worth $59,000 after purchasing an additional 600 shares during the period. Sapphire Star Partners LP lifted its holdings in shares of Smart Global by 2.7% during the fourth quarter. Sapphire Star Partners LP now owns 23,320 shares of the company’s stock worth $692,000 after purchasing an additional 603 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Smart Global by 27.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,848 shares of the company’s stock worth $55,000 after purchasing an additional 616 shares during the period. First Trust Advisors LP lifted its holdings in shares of Smart Global by 3.6% during the first quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock worth $446,000 after purchasing an additional 798 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Smart Global by 34.6% during the fourth quarter. Meeder Asset Management Inc. now owns 3,609 shares of the company’s stock worth $107,000 after purchasing an additional 927 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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