SMART Global (NASDAQ:SGH) Earns Buy Rating from Needham & Company LLC

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $27.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 45.32% from the company’s current price.

Separately, Stifel Nicolaus boosted their price objective on shares of SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a report on Wednesday, April 10th.

SMART Global Stock Performance

Shares of SMART Global stock opened at $18.58 on Tuesday. The business’s 50 day moving average price is $22.08 and its 200 day moving average price is $19.65. The company has a market cap of $971.73 million, a price-to-earnings ratio of -5.05 and a beta of 1.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. SMART Global has a one year low of $12.66 and a one year high of $29.99.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The firm had revenue of $284.82 million during the quarter, compared to analysts’ expectations of $285.18 million. On average, research analysts predict that SMART Global will post 0.64 EPS for the current year.

Insider Transactions at SMART Global

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SGH. SG Americas Securities LLC lifted its stake in shares of SMART Global by 75.6% in the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock valued at $4,447,000 after purchasing an additional 101,159 shares during the period. Deutsche Bank AG increased its stake in SMART Global by 46.3% in the 3rd quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock valued at $11,760,000 after purchasing an additional 152,918 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SMART Global during the third quarter worth $1,994,000. American Century Companies Inc. increased its position in shares of SMART Global by 42.3% in the third quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock valued at $7,133,000 after buying an additional 87,035 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of SMART Global during the 3rd quarter worth $702,000.

About SMART Global

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.