Weekly Investment Analysts’ Ratings Changes for Smart Global (SGH)

Several brokerages have updated their recommendations and price targets on shares of Smart Global (NASDAQ: SGH) in the last few weeks:

  • 12/30/2017 – Smart Global had its price target raised by analysts at Stifel Nicolaus from $40.00 to $47.00. They now have a “buy” rating on the stock.
  • 12/26/2017 – Smart Global had its price target raised by analysts at Needham & Company LLC from $43.00 to $46.00. They now have a “strong-buy” rating on the stock.
  • 12/22/2017 – Smart Global had its price target raised by analysts at Roth Capital to $50.00. They now have a “buy” rating on the stock.
  • 12/22/2017 – Smart Global had its price target raised by analysts at Deutsche Bank AG to $45.00. They now have a “buy” rating on the stock.
  • 12/22/2017 – Smart Global had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $47.00 price target on the stock, up previously from $40.00.
  • 11/16/2017 – Smart Global had its “strong-buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $43.00 price target on the stock, up previously from $40.00. They wrote, “Yesterday afternoon Smart Global Holdings announced updated guidance for F1Q18 with revenue and non-GAAP EPS above the high end of previous guidance. The change comes from stronger than expected strength in the global memory market and its Brazilian business during the first two months of the quarter. Importantly SGH believes that its F2Q18 quarter could come in flat-slightly up compared to F1Q18 in a seasonally down quarter (SGH plans to keep Brazilian factory running in F2Q18 rather than a typical 2-3 week close due to strong Brazil Mobile demand). We continue to believe that SGH is worth 11.3x P/E on our FY18 estimates and have raised our PT to $43 to reflect our updated estimate of $3.80.””
  • 11/16/2017 – Smart Global had its price target raised by analysts at Deutsche Bank AG from $35.00 to $38.00. They now have a “buy” rating on the stock.
  • 11/16/2017 – Smart Global had its price target raised by analysts at Stifel Nicolaus from $35.00 to $40.00. They now have a “buy” rating on the stock.

Smart Global Holdings Inc (SGH) traded up $0.14 during midday trading on Monday, hitting $36.47. The stock had a trading volume of 266,982 shares, compared to its average volume of 883,003. The company has a market cap of $793.26 and a P/E ratio of 66.31. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50. Smart Global Holdings Inc has a 52-week low of $11.50 and a 52-week high of $43.15.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $255.03 million. Smart Global’s quarterly revenue was up 66.6% on a year-over-year basis. research analysts expect that Smart Global Holdings Inc will post 4.76 EPS for the current fiscal year.

In other news, VP Bruce M. Goldberg sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.76, for a total transaction of $89,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sandeep Nayyar sold 7,148 shares of the company’s stock in a transaction on Monday, November 20th. The shares were 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. In the last three months, insiders have sold 3,319,457 shares of company stock worth $106,789,483. Corporate insiders own 6.90% of the company’s stock.

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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