Smart Global Holdings Inc (NASDAQ:SGH)’s share price was up 5.5% on Monday . The company traded as high as $25.44 and last traded at $25.35. Approximately 125,900 shares traded hands during trading, a decline of 50% from the average daily volume of 254,317 shares. The stock had previously closed at $24.03.
Several analysts have issued reports on SGH shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 target price on shares of Smart Global in a research report on Wednesday, July 8th. Zacks Investment Research raised Smart Global from a “sell” rating to a “hold” rating in a research report on Friday, September 11th. ValuEngine upgraded shares of Smart Global from a “sell” rating to a “hold” rating in a report on Friday, July 10th. BidaskClub raised shares of Smart Global from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 2nd. Finally, Needham & Company LLC started coverage on shares of Smart Global in a research report on Wednesday, July 8th. They issued a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Smart Global currently has a consensus rating of “Hold” and a consensus price target of $35.00.
The stock has a market cap of $630.31 million, a PE ratio of -200.68 and a beta of 0.92. The company’s fifty day moving average is $26.13 and its 200-day moving average is $25.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.85 and a quick ratio of 1.26.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, July 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. Smart Global had a positive return on equity of 13.02% and a negative net margin of 0.28%. The company had revenue of $281.30 million for the quarter, compared to the consensus estimate of $282.56 million. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts expect that Smart Global Holdings Inc will post 1.77 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in SGH. Canada Pension Plan Investment Board grew its position in shares of Smart Global by 160.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 49,500 shares of the company’s stock valued at $1,203,000 after acquiring an additional 30,500 shares during the period. Federated Hermes Inc. increased its position in shares of Smart Global by 50.7% in the second quarter. Federated Hermes Inc. now owns 51,577 shares of the company’s stock valued at $1,402,000 after buying an additional 17,362 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Smart Global during the 1st quarter worth approximately $45,000. Deutsche Bank AG lifted its position in shares of Smart Global by 657.3% during the 1st quarter. Deutsche Bank AG now owns 199,139 shares of the company’s stock valued at $4,839,000 after buying an additional 172,843 shares in the last quarter. Finally, State Street Corp grew its stake in Smart Global by 2.8% in the 1st quarter. State Street Corp now owns 595,298 shares of the company’s stock valued at $14,466,000 after acquiring an additional 16,281 shares during the period.
Smart Global Company Profile (NASDAQ:SGH)
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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