Iain Mackenzie Sells 10,000 Shares of Smart Global Holdings Inc (SGH) Stock

Smart Global Holdings Inc (NASDAQ:SGH) Director Iain Mackenzie sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Iain Mackenzie also recently made the following trade(s):

  • On Monday, December 17th, Iain Mackenzie sold 10,000 shares of Smart Global stock. The stock was sold at an average price of $28.99, for a total transaction of $289,900.00.
  • On Monday, December 3rd, Iain Mackenzie sold 52,404 shares of Smart Global stock. The stock was sold at an average price of $35.03, for a total transaction of $1,835,712.12.
  • On Monday, November 19th, Iain Mackenzie sold 98,797 shares of Smart Global stock. The stock was sold at an average price of $30.52, for a total transaction of $3,015,284.44.
  • On Monday, November 5th, Iain Mackenzie sold 45,000 shares of Smart Global stock. The stock was sold at an average price of $29.25, for a total transaction of $1,316,250.00.

SGH traded down $0.22 on Thursday, reaching $22.75. 20,016 shares of the company’s stock were exchanged, compared to its average volume of 1,072,916. The company has a market cap of $522.93 million, a PE ratio of 3.79, a price-to-earnings-growth ratio of 0.34 and a beta of 1.04. Smart Global Holdings Inc has a twelve month low of $22.50 and a twelve month high of $56.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.30 and a current ratio of 1.87.

Smart Global (NASDAQ:SGH) last posted its earnings results on Tuesday, January 8th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.17). The business had revenue of $393.90 million for the quarter, compared to analyst estimates of $382.23 million. Smart Global had a return on equity of 83.61% and a net margin of 9.13%. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. On average, sell-side analysts predict that Smart Global Holdings Inc will post 4.46 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its position in Smart Global by 34.6% in the fourth quarter. Meeder Asset Management Inc. now owns 3,609 shares of the company’s stock valued at $107,000 after acquiring an additional 927 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Smart Global in the fourth quarter valued at approximately $123,000. SG Americas Securities LLC acquired a new stake in Smart Global in the third quarter valued at approximately $130,000. USA Financial Portformulas Corp acquired a new stake in Smart Global in the third quarter valued at approximately $177,000. Finally, Paloma Partners Management Co acquired a new stake in Smart Global in the third quarter valued at approximately $211,000. 83.06% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on the stock. ValuEngine lowered shares of Smart Global from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Smart Global in a report on Wednesday. Deutsche Bank cut their price objective on shares of Smart Global from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, October 5th. Stifel Nicolaus increased their target price on shares of Smart Global from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, October 5th. Finally, Zacks Investment Research downgraded shares of Smart Global from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $47.50.

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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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