SMART Global’s (SGH) Buy Rating Reaffirmed at Needham & Company LLC

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

Separately, Stifel Nicolaus raised their price objective on SMART Global from $26.00 to $27.50 and gave the company a buy rating in a research note on Wednesday, April 10th.

SMART Global Stock Performance

SGH opened at $18.53 on Tuesday. SMART Global has a 1 year low of $12.66 and a 1 year high of $29.99. 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 business has a fifty day simple moving average of $22.04 and a 200 day simple moving average of $19.69. The company has a market capitalization of $969.12 million, a PE ratio of -5.04 and a beta of 1.80.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The firm had revenue of $284.82 million during the quarter, compared to the consensus estimate of $285.18 million. SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. Research analysts expect that SMART Global will post 0.64 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of SMART Global

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in SMART Global by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock valued at $129,387,000 after acquiring an additional 810,022 shares during the period. FMR LLC boosted its holdings in shares of SMART Global by 66.3% in the 3rd quarter. FMR LLC now owns 2,209,647 shares of the company’s stock worth $53,805,000 after purchasing an additional 880,971 shares during the period. Dimensional Fund Advisors LP increased its position in SMART Global by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock valued at $28,084,000 after acquiring an additional 37,256 shares during the last quarter. LSV Asset Management grew its stake in shares of SMART Global by 26.3% during the first quarter. LSV Asset Management now owns 874,300 shares of the company’s stock valued at $23,012,000 after buying an additional 182,200 shares during the last quarter. Finally, UBS Group AG increased its stake 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 purchasing an additional 850,764 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.