Brokerages Set Smart Global Holdings Inc (SGH) PT at $21.83
Shares of Smart Global Holdings Inc (NYSE:SGH) have received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.83.
A number of analysts recently issued reports on SGH shares. Needham & Company LLC started coverage on Smart Global Holdings in a report on Monday, June 19th. They issued a “strong-buy” rating and a $20.00 price target for the company. Stifel Nicolaus started coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued a “buy” rating and a $27.00 price objective for the company. Deutsche Bank AG started coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued a “buy” rating and a $18.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Smart Global Holdings in a research note on Sunday, June 25th. Finally, Barclays PLC started coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued an “overweight” rating and a $19.00 price objective for the company.
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Shares of Smart Global Holdings (NYSE SGH) traded up 7.49% on Friday, hitting $16.80. The stock had a trading volume of 235,296 shares. The company has a 50-day moving average of $15.11 and a 200-day moving average of $15.11. Smart Global Holdings has a 52-week low of $11.50 and a 52-week high of $17.69. The company has a market cap of $347.88 million and a P/E ratio of 240.00.
Smart Global Holdings (NYSE:SGH) last announced its quarterly earnings results on Thursday, June 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $206.97 million during the quarter, compared to analysts’ expectations of $202.87 million. Smart Global Holdings had a negative net margin of 1.36% and a negative return on equity of 95.03%. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts anticipate that Smart Global Holdings will post $1.71 EPS for the current fiscal year.
In other Smart Global Holdings news, major shareholder Lake Sumeru (Offshore) Silver acquired 1,500,000 shares of Smart Global Holdings stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $11.00 per share, with a total value of $16,500,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
About Smart Global Holdings
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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