Barclays Increases Smart Global (NASDAQ:SGH) Price Target to $30.00

Share on StockTwits

Smart Global (NASDAQ:SGH) had its price objective lifted by Barclays from $24.00 to $30.00 in a report released on Wednesday morning, The Fly reports. They currently have an overweight rating on the stock.

SGH has been the subject of several other reports. Deutsche Bank boosted their price objective on Welltower from $61.00 to $71.00 and gave the stock a hold rating in a research report on Friday, March 29th. BidaskClub upgraded Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Needham & Company LLC upgraded Smart Global from a hold rating to a buy rating and set a $32.00 price objective for the company in a research report on Friday, June 28th. Finally, TheStreet downgraded UDR from a b rating to a c rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Smart Global currently has a consensus rating of Buy and an average price target of $35.33.

Shares of NASDAQ SGH opened at $31.47 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.66 and a current ratio of 2.24. The business’s 50 day simple moving average is $20.53. The firm has a market capitalization of $701.44 million, a P/E ratio of 5.25, a PEG ratio of 0.70 and a beta of 1.21. Smart Global has a 12-month low of $16.94 and a 12-month high of $35.10.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. As a group, equities research analysts forecast that Smart Global will post 2.91 earnings per share for the current year.

In related news, Director Iain Mackenzie sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $21.31, for a total transaction of $213,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Bruce M. Goldberg sold 2,381 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $18.39, for a total value of $43,786.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,381 shares of company stock worth $301,147. 4.20% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in SGH. Park West Asset Management LLC bought a new position in shares of Smart Global in the fourth quarter valued at $59,400,000. BlackRock Inc. increased its holdings in shares of Smart Global by 137.4% in the fourth quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock valued at $49,339,000 after buying an additional 961,590 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Smart Global by 26.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 535,401 shares of the company’s stock valued at $15,902,000 after buying an additional 112,077 shares in the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of Smart Global by 106.0% in the first quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after buying an additional 234,183 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Smart Global in the fourth quarter valued at $13,005,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Smart Global Company Profile

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.

Further Reading: Outstanding Shares

The Fly

Analyst Recommendations for Smart Global (NASDAQ:SGH)

Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.