SMART Global (NASDAQ:SGH) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of SMART Global (NASDAQ:SGH) in a research report report published on Thursday, Benzinga reports. Rosenblatt Securities currently has a $35.00 target price on the stock.

A number of other research firms have also recently commented on SGH. Stifel Nicolaus lifted their price target on shares of SMART Global from $26.00 to $27.50 and gave the stock a buy rating in a research note on Wednesday, April 10th. Needham & Company LLC reiterated a buy rating and issued a $27.00 target price on shares of SMART Global in a research note on Tuesday, May 7th.

SMART Global Stock Performance

SGH stock opened at $22.69 on Thursday. The company has a fifty day simple moving average of $20.37 and a two-hundred day simple moving average of $21.05. SMART Global has a 52 week low of $12.66 and a 52 week high of $29.99. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $284.82 million for the quarter, compared to the consensus estimate of $285.18 million. SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. Research analysts predict that SMART Global will post 0.59 EPS for the current fiscal year.

Insider Activity at SMART Global

In other SMART Global news, CEO Mark Adams acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $18.79 per share, with a total value of $187,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,640 shares in the company, valued at approximately $556,935.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Joseph Gates Clark sold 2,529 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now directly owns 92,386 shares in the company, valued at approximately $1,657,404.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction that occurred on Thursday, April 11th. The shares were purchased 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 owns 29,640 shares in the company, valued at $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SMART Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in SMART Global by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock valued at $185,246,000 after buying an additional 203,197 shares in the last quarter. FMR LLC increased its holdings in shares of SMART Global by 66.3% during the third quarter. FMR LLC now owns 2,209,647 shares of the company’s stock valued at $53,805,000 after acquiring an additional 880,971 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of SMART Global by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company’s stock valued at $28,084,000 after purchasing an additional 37,256 shares during the last quarter. LSV Asset Management boosted its stake in SMART Global by 26.3% in the 1st quarter. LSV Asset Management now owns 874,300 shares of the company’s stock worth $23,012,000 after purchasing an additional 182,200 shares in the last quarter. Finally, UBS Group AG grew its position in SMART Global by 7,076.7% during the 4th 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 last quarter.

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.