Roth Capital Increases Smart Global (SGH) Price Target to $50.00

Smart Global (NASDAQ:SGH) had its price target hoisted by equities researchers at Roth Capital to $50.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s price objective would suggest a potential upside of 46.07% from the company’s current price.

SGH has been the topic of several other research reports. Deutsche Bank reissued a “buy” rating and issued a $25.00 target price (up previously from $20.00) on shares of Smart Global in a research note on Thursday, September 14th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target (up from $27.00) on shares of Smart Global in a report on Thursday, September 28th. Barclays upped their price target on shares of Smart Global from $19.00 to $28.00 and gave the stock a “positive” rating in a report on Friday, September 29th. Needham & Company LLC restated a “strong-buy” rating and issued a $33.00 price target (up from $23.00) on shares of Smart Global in a report on Friday, September 29th. Finally, Jefferies Group restated a “buy” rating and issued a $28.50 price target (up from $23.00) on shares of Smart Global in a report on Monday, October 2nd. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.81.

Smart Global (SGH) opened at $34.23 on Friday. Smart Global has a 1-year low of $11.50 and a 1-year high of $43.15. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.45.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, December 21st. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $255.03 million. Smart Global’s revenue was up 66.6% compared to the same quarter last year. analysts expect that Smart Global will post 3.59 EPS for the current year.

In related news, CEO Iain Mackenzie sold 132,045 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $32.10, for a total value of $4,238,644.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandeep Nayyar sold 7,148 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $35.20, for a total transaction of $251,609.60. The disclosure for this sale can be found here. Insiders sold a total of 3,264,122 shares of company stock valued at $104,818,100 over the last ninety days.

Several large investors have recently bought and sold shares of SGH. SG Americas Securities LLC acquired a new stake in Smart Global in the 3rd quarter valued at $103,000. Legal & General Group Plc acquired a new stake in Smart Global during the 3rd quarter worth $133,000. Strs Ohio acquired a new stake in Smart Global during the 3rd quarter worth $158,000. Macquarie Group Ltd. acquired a new stake in Smart Global during the 3rd quarter worth $166,000. Finally, Stifel Financial Corp acquired a new stake in Smart Global during the 2nd quarter worth $169,000. 92.18% of the stock is owned by hedge funds and other institutional investors.

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Smart Global 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.

Analyst Recommendations for Smart Global (NASDAQ:SGH)

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