Smart Global Holdings Inc (SGH) PT Raised to $42.00 at Roth Capital

Smart Global Holdings Inc (NYSE:SGH) had its price objective raised by equities researchers at Roth Capital from $30.00 to $42.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s price target suggests a potential upside of 20.76% from the company’s previous close.

SGH has been the topic of several other research reports. Deutsche Bank AG started coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research raised shares of Smart Global Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Thursday, October 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target (up previously from $27.00) on shares of Smart Global Holdings in a report on Thursday, September 28th. Jefferies Group LLC started coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Needham & Company LLC lifted their price target on shares of Smart Global Holdings from $33.00 to $40.00 and gave the company a “strong-buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.21.

Shares of Smart Global Holdings (NYSE:SGH) opened at 34.78 on Wednesday. The company’s 50-day moving average is $24.26 and its 200-day moving average is $19.10. Smart Global Holdings has a 12-month low of $11.50 and a 12-month high of $38.24. The company’s market cap is $745.47 million.

Smart Global Holdings (NYSE:SGH) last issued its quarterly earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The business had revenue of $223.00 million for the quarter, compared to the consensus estimate of $210.54 million. The business’s quarterly revenue was up 52.5% compared to the same quarter last year. Equities research analysts predict that Smart Global Holdings will post $3.21 earnings per share for the current year.

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A number of large investors have recently modified their holdings of the business. Stifel Financial Corp purchased a new position in Smart Global Holdings during the second quarter valued at approximately $169,000. Spark Investment Management LLC bought a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $184,000. Laurion Capital Management LP bought a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $324,000. Goldman Sachs Group Inc. bought a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $429,000. Finally, Symphony Asset Management LLC bought a new stake in shares of Smart Global Holdings during the second quarter valued at approximately $1,286,000.

Smart Global Holdings Company Profile

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

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