Smart Global (NASDAQ:SGH) had its target price raised by Barclays from $24.00 to $30.00 in a research report released on Wednesday, The Fly reports. The firm currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Deutsche Bank upped their price objective on shares of Welltower from $61.00 to $71.00 and gave the stock a hold rating in a report on Friday, March 29th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Roth Capital decreased their price objective on shares of Smart Global from $40.00 to $30.00 and set a buy rating for the company in a report on Friday, March 29th. Needham & Company LLC upgraded shares of Smart Global from a hold rating to a buy rating and set a $32.00 price objective for the company in a report on Friday, June 28th. Finally, TheStreet cut shares of UDR from a b rating to a c rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $35.33.
Shares of NASDAQ:SGH opened at $31.47 on Wednesday. The company has a market capitalization of $701.44 million, a PE ratio of 5.25, a PEG ratio of 0.70 and a beta of 1.21. Smart Global has a 1 year low of $16.94 and a 1 year high of $35.10. The stock has a fifty day simple moving average of $20.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66.
Smart Global (NASDAQ:SGH) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The company’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 earnings per share. On average, equities analysts anticipate that Smart Global will post 2.91 earnings per share for the current year.
In other Smart Global news, VP Bruce M. Goldberg sold 2,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $22.13, for a total transaction of $44,260.00. 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 2,381 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $18.39, for a total transaction of $43,786.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,381 shares of company stock valued at $301,147. Company insiders own 4.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. 6 Meridian acquired a new position in shares of Smart Global during the second quarter valued at about $204,000. First Trust Advisors LP raised its position in shares of Smart Global by 3.6% during the first quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock valued at $446,000 after buying an additional 798 shares during the last quarter. FMR LLC acquired a new position in shares of Smart Global during the first quarter valued at about $7,757,000. Kennedy Capital Management Inc. raised its position in shares of Smart Global by 106.0% during the first quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after buying an additional 234,183 shares during the last quarter. Finally, Yorktown Management & Research Co Inc raised its position in shares of Smart Global by 7.6% during the first quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock valued at $347,000 after buying an additional 1,276 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
Smart Global Company Profile
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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