Insider Selling: SMART Global Holdings, Inc. (NASDAQ:SGH) Insider Sells $145,000.00 in Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) insider Joseph Gates Clark sold 5,000 shares of SMART Global stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now directly owns 87,386 shares in the company, valued at approximately $2,534,194. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Joseph Gates Clark also recently made the following trade(s):

• On Wednesday, April 24th, Joseph Gates Clark sold 2,529 shares of SMART Global stock. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26.

SMART Global Stock Up 1.3 %

SGH opened at $28.90 on Monday. SMART Global Holdings, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $29.81. 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 $21.82 and its two-hundred day moving average price is $21.57. The company has a market capitalization of $1.53 billion, a P/E ratio of -9.38 and a beta of 1.69.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The firm had revenue of $300.58 million for the quarter, compared to the consensus estimate of $300.00 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. On average, analysts anticipate that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Institutional Investors Weigh In On SMART Global

A number of institutional investors have recently bought and sold shares of SGH. UBS Group AG boosted its stake in shares of SMART Global by 7,076.7% in the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock valued at $16,333,000 after purchasing an additional 850,764 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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. 1492 Capital Management LLC acquired a new stake in shares of SMART Global in the 4th quarter valued at $4,153,000. Russell Investments Group Ltd. boosted its stake in shares of SMART Global by 331.9% in the 1st quarter. Russell Investments Group Ltd. now owns 259,711 shares of the company’s stock valued at $6,836,000 after purchasing an additional 199,585 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of SMART Global in the 1st quarter valued at $5,198,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SGH. Stifel Nicolaus restated a “buy” rating and issued a $27.50 price objective on shares of SMART Global in a research note on Wednesday, July 3rd. Rosenblatt Securities restated a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research note on Wednesday, July 3rd. Barclays raised their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Needham & Company LLC raised their price objective on shares of SMART Global from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.88.

SMART Global Company Profile

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.