Smart Global Holdings Inc (SGH) Director Sells $1,253,340.54 in Stock
Smart Global Holdings Inc (NASDAQ:SGH) Director Mukesh Patel sold 39,339 shares of Smart Global stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $31.86, for a total transaction of $1,253,340.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ:SGH opened at $29.53 on Friday. The company has a market capitalization of $714.73 million, a P/E ratio of 4.92, a PEG ratio of 0.32 and a beta of -0.43. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.82. Smart Global Holdings Inc has a 1 year low of $26.26 and a 1 year high of $56.69.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.06. The business had revenue of $373.97 million for the quarter, compared to analysts’ expectations of $368.51 million. Smart Global had a net margin of 9.27% and a return on equity of 100.35%. The firm’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, equities analysts predict that Smart Global Holdings Inc will post 6.61 EPS for the current fiscal year.
A number of research analysts recently issued reports on the stock. BidaskClub raised shares of Smart Global from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. ValuEngine raised shares of Smart Global from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Smart Global from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Finally, Roth Capital decreased their price objective on shares of Smart Global from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $52.71.
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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