Smart Global Holdings Inc (NYSE:SGH)’s share price rose 7.2% on Wednesday . The company traded as high as $22.76 and last traded at $22.19. Approximately 524,417 shares traded hands during trading, an increase of 315% from the average daily volume of 126,256 shares. The stock had previously closed at $20.70.

SGH has been the topic of a number of research reports. Needham & Company LLC initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “strong-buy” rating and a $20.00 price objective on the stock. Stifel Nicolaus initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $27.00 price objective on the stock. Deutsche Bank AG initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $18.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and set a $23.00 price objective (up from $21.00) on shares of Smart Global Holdings in a report on Sunday, June 25th. Finally, Barclays PLC initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set an “overweight” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Smart Global Holdings presently has an average rating of “Buy” and an average target price of $21.83.

The company has a market cap of $492.07 million and a price-to-earnings ratio of 324.29. The stock has a 50-day moving average of $18.59 and a 200-day moving average of $16.76.

Smart Global Holdings (NYSE:SGH) last issued its quarterly earnings data 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. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The company had revenue of $206.97 million for the quarter, compared to analysts’ expectations of $202.87 million. The business’s revenue was up 38.3% compared to the same quarter last year. Equities research analysts predict that Smart Global Holdings Inc will post $1.63 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Stifel Financial Corp purchased a new stake in Smart Global Holdings during the second quarter valued at approximately $169,000. Spark Investment Management LLC purchased a new stake in Smart Global Holdings during the second quarter valued at approximately $184,000. Laurion Capital Management LP purchased a new stake in Smart Global Holdings during the second quarter valued at approximately $324,000. Goldman Sachs Group Inc. purchased a new stake in Smart Global Holdings during the second quarter valued at approximately $429,000. Finally, Symphony Asset Management LLC purchased a new stake in Smart Global Holdings during the second quarter valued at approximately $1,286,000.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/08/smart-global-holdings-inc-sgh-stock-price-up-7-2.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.