ClariVest Asset Management LLC lowered its holdings in SMART Global Holdings, Inc. (NASDAQ:SGH) by 6.3% in the third quarter, HoldingsChannel reports. The firm owned 11,900 shares of the company’s stock after selling 800 shares during the quarter. ClariVest Asset Management LLC’s holdings in SMART Global were worth $326,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. American International Group Inc. grew its holdings in shares of SMART Global by 7.3% in the second quarter. American International Group Inc. now owns 9,961 shares of the company’s stock valued at $271,000 after purchasing an additional 678 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of SMART Global by 3.6% during the 1st quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock worth $446,000 after acquiring an additional 798 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of SMART Global by 1.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 50,675 shares of the company’s stock worth $1,377,000 after acquiring an additional 872 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of SMART Global during the 2nd quarter worth about $29,000. Finally, California Public Employees Retirement System grew its position in SMART Global by 3.5% in the third quarter. California Public Employees Retirement System now owns 33,339 shares of the company’s stock valued at $911,000 after acquiring an additional 1,122 shares in the last quarter.
Shares of SGH stock opened at $29.56 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.39 and a current ratio of 1.97. SMART Global Holdings, Inc. has a 52-week low of $16.42 and a 52-week high of $39.08. The company has a market capitalization of $721.86 million, a PE ratio of -422.29 and a beta of 0.87. The business’s fifty day moving average is $26.83 and its 200 day moving average is $26.59.
In other news, CFO Jack A. Pacheco sold 3,495 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $30.00, for a total transaction of $104,850.00. Following the completion of the sale, the chief financial officer now owns 86,272 shares of the company’s stock, valued at approximately $2,588,160. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Adams acquired 9,820 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were acquired at an average cost of $25.99 per share, with a total value of $255,221.80. Following the transaction, the chief executive officer now owns 475,000 shares in the company, valued at $12,345,250. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.
A number of research firms have issued reports on SGH. Barclays raised their target price on SMART Global from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 2nd. BidaskClub raised SMART Global from a “hold” rating to a “buy” rating in a research note on Monday, October 26th. Zacks Investment Research lowered SMART Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Needham & Company LLC increased their price objective on SMART Global from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $45.00 price target on shares of SMART Global in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. SMART Global currently has an average rating of “Hold” and a consensus price target of $35.86.
SMART Global Profile
SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. It offers dynamic random access memory (DRAM) modules for desktops, notebooks, and servers; and embedded and removable flash memory products; and flash component products, such as embedded multimedia controllers, and embedded and removal products in USB, CompactFlash and SD/microSD card configurations.
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