Smart Global (NASDAQ:SGH) had its price objective increased by equities research analysts at Deutsche Bank from $45.00 to $48.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank’s price objective would indicate a potential upside of 6.86% from the company’s current price.
SGH has been the topic of several other research reports. Zacks Investment Research lowered Smart Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Roth Capital lifted their price target on Smart Global to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 price target (up previously from $40.00) on shares of Smart Global in a research report on Friday, December 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price target on shares of Smart Global in a research report on Thursday, January 18th. Finally, BidaskClub raised Smart Global from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Smart Global currently has an average rating of “Buy” and a consensus price target of $39.56.
Shares of Smart Global stock opened at $44.92 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50. Smart Global has a 12-month low of $11.50 and a 12-month high of $46.39.
Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.13. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.03 million. Smart Global’s revenue was up 66.6% on a year-over-year basis. research analysts predict that Smart Global will post 4.76 earnings per share for the current year.
In other Smart Global news, VP Alan Marten sold 8,500 shares of Smart Global stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $41.57, for a total value of $353,345.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $31.06, for a total value of $232,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,333 shares of company stock worth $4,316,296. 6.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Park West Asset Management LLC grew its stake in shares of Smart Global by 505.0% in the 4th quarter. Park West Asset Management LLC now owns 1,398,009 shares of the company’s stock valued at $47,113,000 after purchasing an additional 1,166,934 shares during the last quarter. Bogle Investment Management L P DE grew its stake in shares of Smart Global by 2,461.1% in the 4th quarter. Bogle Investment Management L P DE now owns 380,227 shares of the company’s stock valued at $12,813,000 after purchasing an additional 365,381 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Smart Global in the 4th quarter valued at approximately $12,319,000. Millennium Management LLC grew its stake in shares of Smart Global by 1,465.2% in the 4th quarter. Millennium Management LLC now owns 162,767 shares of the company’s stock valued at $5,485,000 after purchasing an additional 152,368 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Smart Global in the 3rd quarter valued at approximately $4,296,000. Institutional investors own 87.00% of the company’s stock.
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About Smart Global
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.
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