SMART Global’s (SGH) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SMART Global (NASDAQ:SGH) in a report released on Monday morning, Benzinga reports. They currently have a $27.00 price objective on the stock.

Separately, Stifel Nicolaus upped their target price on shares of SMART Global from $26.00 to $27.50 and gave the company a buy rating in a research note on Wednesday, April 10th.

SMART Global Price Performance

Shares of SMART Global stock opened at $18.49 on Monday. The stock has a market capitalization of $967.03 million, a P/E ratio of -5.02 and a beta of 1.74. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The business’s fifty day moving average price is $22.35 and its 200 day moving average price is $19.64. SMART Global has a twelve month low of $12.66 and a twelve month high of $29.99.

Insider Transactions at SMART Global

In related news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the sale, the insider now owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Adams purchased 10,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SMART Global

Several hedge funds have recently made changes to their positions in SGH. GAMMA Investing LLC boosted its position in shares of SMART Global by 42.9% during the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after purchasing an additional 469 shares in the last quarter. TFO Wealth Partners LLC boosted its position in shares of SMART Global by 32,469.2% during the fourth quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after buying an additional 4,221 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of SMART Global by 85.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company’s stock worth $93,000 after buying an additional 1,757 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in SMART Global in the 3rd quarter valued at approximately $217,000. Finally, Aigen Investment Management LP acquired a new stake in SMART Global in the 3rd quarter valued at approximately $226,000.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.