Bank of New York Mellon Corp acquired a new stake in shares of Smart Global Holdings Inc (NASDAQ:SGH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 57,673 shares of the company’s stock, valued at approximately $1,544,000.

A number of other hedge funds have also modified their holdings of the stock. Strs Ohio acquired a new stake in Smart Global in the third quarter valued at approximately $158,000. Nationwide Fund Advisors acquired a new stake in Smart Global in the third quarter valued at approximately $268,000. Stifel Financial Corp acquired a new stake in Smart Global in the second quarter valued at approximately $169,000. Rhumbline Advisers acquired a new stake in Smart Global in the third quarter valued at approximately $387,000. Finally, Laurion Capital Management LP acquired a new stake in Smart Global in the second quarter valued at approximately $324,000. 91.84% of the stock is currently owned by institutional investors.

Several equities research analysts have weighed in on SGH shares. Zacks Investment Research upgraded shares of Smart Global from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Thursday, October 5th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price (up from $27.00) on shares of Smart Global in a research note on Thursday, September 28th. Roth Capital raised their target price on shares of Smart Global to $50.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Deutsche Bank restated a “buy” rating and issued a $35.00 target price on shares of Smart Global in a research note on Tuesday, November 7th. Finally, Needham & Company LLC raised their target price on shares of Smart Global from $33.00 to $40.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 11th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Smart Global presently has a consensus rating of “Buy” and an average target price of $39.19.

In related news, major shareholder Lake Sumeru (Offshore) Silver sold 3,051,471 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $97,952,219.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sandeep Nayyar sold 7,148 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $35.20, for a total transaction of $251,609.60. The disclosure for this sale can be found here. Insiders have sold 3,319,457 shares of company stock valued at $106,789,483 over the last quarter. Insiders own 6.90% of the company’s stock.

Shares of Smart Global Holdings Inc (SGH) opened at $35.53 on Wednesday. Smart Global Holdings Inc has a one year low of $11.50 and a one year high of $43.15. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50. The company has a market cap of $772.81 and a price-to-earnings ratio of 64.60.

Smart Global (NASDAQ:SGH) last posted its quarterly earnings data on Thursday, December 21st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.03 million. The company’s quarterly revenue was up 66.6% compared to the same quarter last year. research analysts predict that Smart Global Holdings Inc will post 4.76 EPS for the current fiscal year.

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Smart Global Company Profile

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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Institutional Ownership by Quarter for Smart Global (NASDAQ:SGH)

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