Smart Global (NASDAQ:SGH) Trading 5.3% Higher

Shares of Smart Global Holdings Inc (NASDAQ:SGH) shot up 5.3% during mid-day trading on Monday . The company traded as high as $31.09 and last traded at $30.76, 405,036 shares were traded during mid-day trading. A decline of 18% from the average session volume of 496,850 shares. The stock had previously closed at $29.20.

A number of analysts have commented on SGH shares. Roth Capital lifted their price target on Smart Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. TheStreet upgraded Smart Global from a “d+” rating to a “c” rating in a research note on Monday, July 29th. Needham & Company LLC increased their price objective on Smart Global to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Deutsche Bank raised their price objective on Smart Global from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, BidaskClub downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.67.

The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average price is $29.00 and its two-hundred day moving average price is $24.23. The stock has a market cap of $740.18 million, a price-to-earnings ratio of 5.28, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The business had revenue of $235.70 million for the quarter, compared to analyst estimates of $264.98 million. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was down 29.7% on a year-over-year basis. On average, analysts predict that Smart Global Holdings Inc will post 2.92 earnings per share for the current fiscal year.

In other news, insider Stephen C. Dow acquired 17,059 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average price of $31.49 per share, with a total value of $537,187.91. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Bruce M. Goldberg sold 2,267 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $31.75, for a total transaction of $71,977.25. The disclosure for this sale can be found here. Insiders have sold a total of 11,551 shares of company stock worth $357,998 over the last ninety days. 4.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Yorktown Management & Research Co Inc boosted its holdings in Smart Global by 7.6% during the first quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock worth $347,000 after buying an additional 1,276 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Smart Global by 1,522.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 58,740 shares of the company’s stock valued at $1,350,000 after buying an additional 55,120 shares during the period. Russell Investments Group Ltd. increased its holdings in Smart Global by 8.2% in the second quarter. Russell Investments Group Ltd. now owns 785,493 shares of the company’s stock valued at $18,048,000 after buying an additional 59,393 shares in the last quarter. NumerixS Investment Technologies Inc increased its holdings in Smart Global by 268.6% in the first quarter. NumerixS Investment Technologies Inc now owns 7,372 shares of the company’s stock valued at $176,000 after buying an additional 5,372 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Smart Global in the second quarter valued at $206,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

About Smart Global (NASDAQ:SGH)

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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