SMART Global (NASDAQ:SGH) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of SMART Global (NASDAQ:SGH) in a report released on Monday morning, Benzinga reports. They currently have a $27.00 price objective on the stock.

Separately, Stifel Nicolaus lifted their target price on SMART Global from $26.00 to $27.50 and gave the stock a buy rating in a research report on Wednesday, April 10th.

SMART Global Trading Up 1.7 %

NASDAQ SGH opened at $17.21 on Monday. SMART Global has a 12 month low of $12.66 and a 12 month high of $29.99. The company has a market capitalization of $900.08 million, a price-to-earnings ratio of -4.68 and a beta of 1.74. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. The firm’s fifty day moving average price is $22.56 and its 200 day moving average price is $19.71.

Insider Activity at SMART Global

In other news, Director Penny Herscher sold 2,525 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the sale, the director now directly owns 12,713 shares of the company’s stock, valued at $287,568.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SMART Global news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the transaction, the director now directly owns 12,713 shares in the company, valued at approximately $287,568.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Adams purchased 10,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $18.79 per share, with a total value of $187,900.00. Following the purchase, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in SMART Global by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after purchasing an additional 810,022 shares in the last quarter. FMR LLC grew its holdings in SMART Global by 66.3% during the third quarter. FMR LLC now owns 2,209,647 shares of the company’s stock worth $53,805,000 after acquiring an additional 880,971 shares during the period. Dimensional Fund Advisors LP raised its position in SMART Global by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock worth $28,084,000 after acquiring an additional 37,256 shares in the last quarter. UBS Group AG raised its position in SMART Global by 7,076.7% in the fourth quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after acquiring an additional 850,764 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in SMART Global by 0.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 832,795 shares of the company’s stock valued at $20,279,000 after acquiring an additional 6,098 shares during the period.

About SMART Global

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.