SMART Global Holdings, Inc. (NASDAQ:SGH) Receives $43.00 Average Target Price from Analysts

Shares of SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) have earned a consensus rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $43.00.

A number of research firms have recently issued reports on SGH. TheStreet lowered shares of SMART Global from a “b-” rating to a “c+” rating in a research note on Tuesday, April 5th. Needham & Company LLC lifted their price target on shares of SMART Global from $42.50 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. Rosenblatt Securities lifted their price target on shares of SMART Global from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. Finally, Barclays dropped their target price on SMART Global from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 6th.

Shares of NASDAQ:SGH opened at $20.28 on Friday. The stock’s 50-day moving average price is $22.65. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 31.44 and a beta of 1.17. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.12 and a quick ratio of 1.49. SMART Global has a 12 month low of $19.34 and a 12 month high of $37.25.

SMART Global (NASDAQ:SGH – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. SMART Global had a net margin of 1.97% and a return on equity of 49.59%. The firm had revenue of $462.54 million for the quarter, compared to analysts’ expectations of $455.02 million. During the same period in the previous year, the company posted $0.54 earnings per share. SMART Global’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that SMART Global will post 2.92 EPS for the current year.

In related news, SVP Claude Demby sold 27,365 shares of the company’s stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $23.93, for a total transaction of $654,844.45. Following the completion of the transaction, the senior vice president now directly owns 164,500 shares in the company, valued at approximately $3,936,485. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in SGH. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of SMART Global by 100.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,600 shares of the company’s stock valued at $248,000 after buying an additional 4,800 shares during the period. Bank of America Corp DE lifted its holdings in shares of SMART Global by 109.9% in the first quarter. Bank of America Corp DE now owns 107,861 shares of the company’s stock valued at $2,786,000 after buying an additional 56,486 shares during the period. Advisory Services Network LLC acquired a new stake in shares of SMART Global in the first quarter valued at $202,000. The Manufacturers Life Insurance Company lifted its holdings in shares of SMART Global by 97.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,062,370 shares of the company’s stock valued at $27,441,000 after buying an additional 525,616 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of SMART Global by 32.2% in the first quarter. BNP Paribas Arbitrage SA now owns 43,136 shares of the company’s stock valued at $1,114,000 after buying an additional 10,500 shares during the period. 52.61% of the stock is owned by institutional investors.

About SMART Global (Get Rating)

SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

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