Zacks Investment Research Lowers Smart Global (NASDAQ:SGH) to Hold

Zacks Investment Research downgraded shares of Smart Global (NASDAQ:SGH) from a buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Smart Global Holdings Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets. The company operates primarily in the U.S., Europe, Asia and Latin America. Smart Global Holdings Inc. is headquartered in Newark, California. “

Other analysts have also recently issued reports about the stock. Barclays increased their target price on shares of Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Needham & Company LLC lowered their target price on shares of to $10.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. TheStreet cut shares of UDR from a b rating to a c rating in a research note on Tuesday, April 30th. Roth Capital lowered their target price on shares of Smart Global from $40.00 to $30.00 and set a buy rating on the stock in a research note on Friday, March 29th. Finally, Deutsche Bank increased their target price on shares of Welltower from $61.00 to $71.00 and gave the stock a hold rating in a research note on Friday, March 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $37.00.



Shares of SGH stock opened at $31.09 on Tuesday. The stock has a market cap of $721.25 million, a PE ratio of 5.18, a P/E/G ratio of 0.72 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78. The company’s 50 day simple moving average is $22.46. Smart Global has a 12 month low of $16.94 and a 12 month high of $35.10.

Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The firm had revenue of $235.70 million during the quarter, compared to analysts’ expectations of $264.98 million. During the same quarter in the prior year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was down 29.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Smart Global will post 2.92 EPS for the current fiscal year.

In other news, VP Bruce M. Goldberg sold 2,381 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.39, for a total value of $43,786.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Bruce M. Goldberg sold 2,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.13, for a total transaction of $44,260.00. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA bought a new position in shares of Smart Global during the 1st quarter valued at $47,000. NumerixS Investment Technologies Inc grew its holdings in shares of Smart Global by 42.9% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the company’s stock valued at $59,000 after purchasing an additional 600 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Smart Global by 116.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,232 shares of the company’s stock valued at $66,000 after purchasing an additional 1,202 shares during the last quarter. First Quadrant L P CA bought a new position in shares of Smart Global during the 1st quarter valued at $83,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Smart Global by 54.0% during the 1st quarter. Meeder Asset Management Inc. now owns 5,557 shares of the company’s stock valued at $108,000 after purchasing an additional 1,948 shares during the last quarter. 97.15% of the stock is currently 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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