Smart Global Holdings Inc (NASDAQ:SGH) Director Iain Mackenzie sold 31,684 shares of the firm’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $35.01, for a total value of $1,109,256.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
SGH opened at $32.72 on Friday. Smart Global Holdings Inc has a 1 year low of $26.26 and a 1 year high of $56.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.13 and a current ratio of 1.61. The stock has a market capitalization of $641.12 million, a price-to-earnings ratio of 15.98 and a beta of -0.39.
Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.06. Smart Global had a return on equity of 94.82% and a net margin of 6.99%. The company had revenue of $373.97 million for the quarter, compared to analyst estimates of $368.51 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 67.7% compared to the same quarter last year. Sell-side analysts predict that Smart Global Holdings Inc will post 5.89 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new position in Smart Global in the third quarter valued at about $227,000. NumerixS Investment Technologies Inc purchased a new position in Smart Global in the second quarter valued at about $256,000. Brown Advisory Inc. purchased a new position in Smart Global in the first quarter valued at about $277,000. Oppenheimer & Co. Inc. purchased a new position in Smart Global in the second quarter valued at about $285,000. Finally, American International Group Inc. grew its stake in Smart Global by 45.7% in the first quarter. American International Group Inc. now owns 6,091 shares of the company’s stock valued at $304,000 after purchasing an additional 1,910 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.
Several equities analysts have recently commented on the company. Deutsche Bank cut their price target on Smart Global from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, October 5th. Stifel Nicolaus raised their price target on Smart Global from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, October 5th. BidaskClub lowered Smart Global from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded Smart Global from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, August 22nd. Finally, ValuEngine lowered Smart Global from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Smart Global presently has an average rating of “Hold” and a consensus target price of $52.71.
About Smart Global
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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