Smart Global (SGH) Upgraded at ValuEngine

ValuEngine upgraded shares of Smart Global (NASDAQ:SGH) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Smart Global from a hold rating to a buy rating and set a $35.00 price target on the stock in a research note on Wednesday, August 22nd. Roth Capital lowered their price objective on shares of Smart Global from $70.00 to $60.00 and set a buy rating on the stock in a research note on Friday, October 5th. Deutsche Bank lowered their price objective on shares of Smart Global from $60.00 to $50.00 and set a buy rating on the stock in a research note on Friday, October 5th. Stifel Nicolaus boosted their price objective on shares of Smart Global from $61.00 to $62.00 and gave the stock a buy rating in a research note on Friday, October 5th. Finally, BidaskClub upgraded shares of Smart Global from a sell rating to a hold rating in a research note on Wednesday, November 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of Buy and an average price target of $53.17.

Shares of SGH stock opened at $34.75 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 0.98. Smart Global has a 1 year low of $25.84 and a 1 year high of $56.69. The firm has a market capitalization of $775.14 million, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 0.35 and a beta of 0.36.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.06. Smart Global had a net margin of 9.27% and a return on equity of 92.01%. The firm had revenue of $373.97 million for the quarter, compared to analyst estimates of $368.51 million. During the same period in the previous year, the business earned $0.79 EPS. The company’s revenue was up 67.7% compared to the same quarter last year. Research analysts expect that Smart Global will post 6.61 EPS for the current year.

In other news, VP Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $30.25, for a total transaction of $226,875.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Bruce M. Goldberg sold 3,836 shares of the business’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $30.08, for a total transaction of $115,386.88. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock worth $8,054,010 over the last 90 days. 6.90% of the stock is owned by company insiders.

Several institutional investors 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 $130,000. USA Financial Portformulas Corp bought a new stake in shares of Smart Global during the 3rd quarter worth about $177,000. Paloma Partners Management Co bought a new stake in shares of Smart Global during the 3rd quarter worth about $211,000. Stone Ridge Asset Management LLC bought a new stake in shares of Smart Global during the 3rd quarter worth about $226,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Smart Global during the 3rd quarter worth about $227,000. Institutional investors own 83.72% of the company’s stock.

About Smart Global

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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