SMART Global (NASDAQ:SGH) had its target price boosted by Needham & Company LLC from $39.00 to $56.00 in a research report sent to investors on Wednesday morning, Analyst Ratings Network reports. The brokerage currently has a buy rating on the stock.
Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus raised their price target on SMART Global from $32.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, December 22nd. Zacks Investment Research downgraded SMART Global from a hold rating to a sell rating in a research report on Wednesday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price target on SMART Global from $35.00 to $44.00 and gave the company a buy rating in a research report on Monday, January 4th. Barclays raised their price target on SMART Global from $26.00 to $28.00 and gave the company an equal weight rating in a research report on Friday, October 2nd. Finally, BidaskClub downgraded SMART Global from a strong-buy rating to a buy rating in a research report on Wednesday, December 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $41.43.
SMART Global stock opened at $38.04 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.39. The company has a market capitalization of $942.36 million, a price-to-earnings ratio of -543.43 and a beta of 0.87. SMART Global has a one year low of $16.42 and a one year high of $41.63. The company’s fifty day moving average price is $34.14 and its two-hundred day moving average price is $28.49.
SMART Global (NASDAQ:SGH) last posted its earnings results on Monday, January 4th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The firm had revenue of $291.70 million for the quarter, compared to the consensus estimate of $291.24 million. SMART Global had a negative net margin of 0.10% and a positive return on equity of 16.80%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, sell-side analysts anticipate that SMART Global will post 2.52 earnings per share for the current year.
In related news, major shareholder Lake Sumeru (Offshore) Silver sold 2,090,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 7th. The shares were sold at an average price of $40.30, for a total value of $84,227,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Adams purchased 9,820 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was bought at an average cost of $25.99 per share, with a total value of $255,221.80. Following the acquisition, the chief executive officer now owns 475,000 shares of the company’s stock, valued at $12,345,250. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 2,150,000 shares of company stock valued at $86,043,122. Corporate insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of SMART Global in the second quarter valued at approximately $29,000. UBS Group AG increased its stake in shares of SMART Global by 421.8% during the 2nd quarter. UBS Group AG now owns 1,435 shares of the company’s stock worth $39,000 after purchasing an additional 1,160 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of SMART Global by 284.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,770 shares of the company’s stock worth $103,000 after purchasing an additional 2,789 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of SMART Global during the 3rd quarter worth about $201,000. Finally, American International Group Inc. grew its stake in SMART Global by 7.3% in the 2nd quarter. American International Group Inc. now owns 9,961 shares of the company’s stock valued at $271,000 after buying an additional 678 shares during the last quarter.
SMART Global Company 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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