Smart Global Holdings Inc (NASDAQ:SGH) Director Iain Mackenzie sold 31,684 shares of the company’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $35.01, for a total transaction of $1,109,256.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Smart Global stock opened at $32.72 on Friday. The company has a market capitalization of $641.12 million, a P/E ratio of 15.98 and a beta of -0.39. Smart Global Holdings Inc has a 12-month low of $26.26 and a 12-month high of $56.69. The company has a quick ratio of 1.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.82.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.06. The company had revenue of $373.97 million during the quarter, compared to analyst estimates of $368.51 million. Smart Global had a net margin of 6.99% and a return on equity of 94.82%. The firm’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Analysts forecast that Smart Global Holdings Inc will post 5.89 EPS for the current year.

Several equities research analysts have recently commented on SGH shares. ValuEngine lowered shares of Smart Global from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Zacks Investment Research raised shares of Smart Global from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Saturday, June 23rd. Stifel Nicolaus upped their price target on shares of Smart Global from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 5th. Deutsche Bank reduced their price target on shares of Smart Global from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, October 5th. Finally, BidaskClub lowered shares of Smart Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Smart Global presently has a consensus rating of “Hold” and an average target price of $52.71.

A number of institutional investors have recently added to or reduced their stakes in SGH. Fox Run Management L.L.C. purchased a new stake in Smart Global in the 3rd quarter worth approximately $227,000. NumerixS Investment Technologies Inc purchased a new stake in Smart Global in the 2nd quarter worth approximately $256,000. Brown Advisory Inc. purchased a new stake in Smart Global in the 1st quarter worth approximately $277,000. Oppenheimer & Co. Inc. purchased a new stake in Smart Global in the 2nd quarter worth approximately $285,000. Finally, American International Group Inc. increased its holdings in Smart Global by 45.7% in the 1st quarter. American International Group Inc. now owns 6,091 shares of the company’s stock worth $304,000 after acquiring an additional 1,910 shares in the last quarter. 83.48% of the stock is owned by institutional investors.

About Smart Global

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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