BidaskClub upgraded shares of Smart Global (NASDAQ:SGH) from a hold rating to a buy rating in a research note published on Thursday morning, BidAskClub reports.

Several other equities analysts have also commented on SGH. Needham & Company LLC raised their price objective on Smart Global to $40.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Deutsche Bank raised their price objective on Smart Global from $30.00 to $36.00 and gave the company a buy rating in a research report on Thursday, August 8th. ValuEngine raised Smart Global from a sell rating to a hold rating in a research report on Thursday, July 11th. Barclays raised their price objective on Smart Global from $24.00 to $30.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Finally, Zacks Investment Research lowered Smart Global from a buy rating to a hold rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $37.67.

Smart Global stock traded down $0.22 on Thursday, hitting $31.04. 10,255 shares of the stock traded hands, compared to its average volume of 144,599. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The firm has a market cap of $719.44 million, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The business’s fifty day simple moving average is $29.00 and its 200 day simple moving average is $24.23. Smart Global has a 1 year low of $16.94 and a 1 year high of $35.10.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $264.98 million. Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The business’s quarterly revenue was down 29.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. As a group, analysts predict that Smart Global will post 2.92 earnings per share for the current year.

In other news, VP Bruce M. Goldberg sold 2,267 shares of Smart Global stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $31.75, for a total value of $71,977.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce M. Goldberg sold 2,200 shares of Smart Global stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $27.71, for a total value of $60,962.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,551 shares of company stock valued at $357,998. 4.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Yorktown Management & Research Co Inc raised its position in shares of Smart Global by 7.6% in the 1st quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock worth $347,000 after purchasing an additional 1,276 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Smart Global by 1,522.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 58,740 shares of the company’s stock worth $1,350,000 after buying an additional 55,120 shares during the last quarter. Russell Investments Group Ltd. raised its position in Smart Global by 8.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 785,493 shares of the company’s stock worth $18,048,000 after buying an additional 59,393 shares during the last quarter. NumerixS Investment Technologies Inc raised its position in Smart Global by 268.6% in the 1st quarter. NumerixS Investment Technologies Inc now owns 7,372 shares of the company’s stock worth $176,000 after buying an additional 5,372 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Smart Global in the 2nd quarter worth about $206,000. 94.69% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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