Crosslink Capital Inc. increased its position in Smart Global Holdings Inc (NASDAQ:SGH) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,039 shares of the company’s stock after buying an additional 29,360 shares during the period. Smart Global comprises 1.2% of Crosslink Capital Inc.’s portfolio, making the stock its 20th largest holding. Crosslink Capital Inc. owned approximately 1.02% of Smart Global worth $5,427,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC grew its stake in Smart Global by 45.6% during the second quarter. Meadow Creek Investment Management LLC now owns 2,400 shares of the company’s stock worth $55,000 after buying an additional 752 shares during the period. BNP Paribas Arbitrage SA purchased a new position in shares of Smart Global in the first quarter valued at $47,000. Neuburgh Advisers LLC boosted its stake in shares of Smart Global by 45.6% in the second quarter. Neuburgh Advisers LLC now owns 3,300 shares of the company’s stock valued at $76,000 after purchasing an additional 1,034 shares during the period. Aperio Group LLC purchased a new position in shares of Smart Global in the second quarter valued at $93,000. Finally, Tyers Asset Management LLC boosted its stake in shares of Smart Global by 45.6% in the second quarter. Tyers Asset Management LLC now owns 4,200 shares of the company’s stock valued at $97,000 after purchasing an additional 1,316 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.
Shares of NASDAQ:SGH traded down $0.88 on Friday, reaching $30.38. 11,349 shares of the company’s stock were exchanged, compared to its average volume of 144,599. The firm has a market capitalization of $719.44 million, a price-to-earnings ratio of 5.06, a PEG ratio of 0.63 and a beta of 1.29. Smart Global Holdings Inc has a fifty-two week low of $16.94 and a fifty-two week high of $35.10. The business’s 50-day moving average is $29.00 and its two-hundred day moving average is $24.23. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78.
Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, June 27th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). The business had revenue of $235.70 million for the quarter, compared to analyst estimates of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The firm’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same period last year, the company posted $1.84 earnings per share. Analysts predict that Smart Global Holdings Inc will post 2.92 earnings per share for the current fiscal year.
In other news, insider Stephen C. Dow acquired 17,059 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $31.49 per share, with a total value of $537,187.91. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kiwan Kim sold 7,084 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $31.77, for a total transaction of $225,058.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,551 shares of company stock worth $357,998. Corporate insiders own 4.20% of the company’s stock.
Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Smart Global from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Needham & Company LLC upped their price target on shares of Smart Global to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Zacks Investment Research cut shares of Smart Global from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of Smart Global from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, TheStreet raised shares of Smart Global from a “d+” rating to a “c” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $37.67.
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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