Other research analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a buy rating and set a $32.00 price target (up previously from $27.00) on shares of Smart Global in a report on Thursday, September 28th. Roth Capital reiterated a buy rating and set a $30.00 price target (up previously from $24.00) on shares of Smart Global in a report on Friday, September 8th. Jefferies Group restated a buy rating and issued a $28.50 target price (up previously from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Needham & Company LLC boosted their target price on Smart Global from $23.00 to $33.00 and gave the company a buy rating in a research note on Monday, October 2nd. Finally, Citigroup boosted their target price on Smart Global to $35.00 and gave the company a buy rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Smart Global has an average rating of Buy and a consensus price target of $38.81.
Smart Global (NASDAQ:SGH) opened at $34.23 on Friday. Smart Global has a twelve month low of $11.50 and a twelve month high of $43.15. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $745.40 and a price-to-earnings ratio of -64.58.
In other news, VP Jack A. Pacheco sold 7,500 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $31.06, for a total transaction of $232,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandeep Nayyar sold 7,148 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $35.20, for a total value of $251,609.60. The disclosure for this sale can be found here. Insiders sold 3,264,122 shares of company stock worth $104,818,100 in the last 90 days.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Smart Global during the 3rd quarter worth about $103,000. Legal & General Group Plc bought a new stake in shares of Smart Global during the 3rd quarter worth about $133,000. Strs Ohio bought a new stake in shares of Smart Global during the 3rd quarter worth about $158,000. Macquarie Group Ltd. bought a new stake in shares of Smart Global during the 3rd quarter worth about $166,000. Finally, Nationwide Fund Advisors bought a new stake in shares of Smart Global during the 3rd quarter worth about $268,000. Institutional investors own 92.18% of the company’s stock.
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About Smart Global
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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