Smart Global (SGH) PT Raised to $46.00

Smart Global (NASDAQ:SGH) had its price objective boosted by investment analysts at Needham & Company LLC from $43.00 to $46.00 in a research note issued on Tuesday. The brokerage currently has a “strong-buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 32.45% from the stock’s previous close.

Several other equities research analysts have also recently commented on SGH. Roth Capital reissued a “buy” rating and issued a $30.00 target price (up from $24.00) on shares of Smart Global in a research note on Friday, September 8th. Deutsche Bank reissued a “buy” rating and issued a $25.00 target price (up from $20.00) on shares of Smart Global in a research note on Thursday, September 14th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 target price (up from $27.00) on shares of Smart Global in a research note on Thursday, September 28th. Barclays lifted their target price on Smart Global from $19.00 to $28.00 and gave the company a “positive” rating in a research note on Friday, September 29th. Finally, Jefferies Group reissued a “buy” rating and issued a $28.50 target price (up from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.19.

Shares of Smart Global (NASDAQ SGH) opened at $34.73 on Tuesday. Smart Global has a twelve month low of $11.50 and a twelve month high of $43.15. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 1.87.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, December 21st. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The firm had revenue of $265.40 million during the quarter, compared to analyst estimates of $255.03 million. Smart Global’s quarterly revenue was up 66.6% on a year-over-year basis. equities analysts anticipate that Smart Global will post 3.59 earnings per share for the current fiscal year.

In other news, VP Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $31.06, for a total value of $232,950.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Alan Marten sold 25,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $32.10, for a total value of $802,500.00. The disclosure for this sale can be found here. Insiders sold a total of 3,264,122 shares of company stock worth $104,818,100 over the last 90 days. 6.90% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Smart Global during the third quarter worth about $103,000. Legal & General Group Plc bought a new position in Smart Global during the third quarter worth about $133,000. Strs Ohio bought a new position in Smart Global during the third quarter worth about $158,000. Macquarie Group Ltd. bought a new position in Smart Global during the third quarter worth about $166,000. Finally, Stifel Financial Corp bought a new position in Smart Global during the second quarter worth about $169,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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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.

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