SGH has been the topic of a number of other reports. ValuEngine upgraded shares of Smart Global from a “sell” rating to a “hold” rating in a report on Friday, July 10th. Rosenblatt Securities restated a “buy” rating and issued a $45.00 price target on shares of Smart Global in a report on Wednesday. Needham & Company LLC began coverage on Smart Global in a research report on Wednesday, July 8th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research raised Smart Global from a “sell” rating to a “hold” rating in a research report on Friday, September 11th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.00.
NASDAQ:SGH opened at $27.30 on Thursday. Smart Global has a 1 year low of $16.42 and a 1 year high of $39.08. The stock has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $25.51. The stock has a market cap of $659.54 million, a price-to-earnings ratio of -209.98 and a beta of 0.92. The company has a current ratio of 1.85, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73.
Smart Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, July 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business had revenue of $281.30 million during the quarter, compared to analyst estimates of $282.56 million. Smart Global had a positive return on equity of 13.02% and a negative net margin of 0.28%. Smart Global’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. Sell-side analysts forecast that Smart Global will post 1.77 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in SGH. Canada Pension Plan Investment Board increased its stake in shares of Smart Global by 160.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 49,500 shares of the company’s stock worth $1,203,000 after purchasing an additional 30,500 shares during the last quarter. Federated Hermes Inc. grew its holdings in Smart Global by 50.7% during the second quarter. Federated Hermes Inc. now owns 51,577 shares of the company’s stock worth $1,402,000 after purchasing an additional 17,362 shares during the period. Advisor Group Holdings Inc. acquired a new position in Smart Global during the first quarter worth approximately $45,000. Deutsche Bank AG raised its stake in Smart Global by 657.3% in the first quarter. Deutsche Bank AG now owns 199,139 shares of the company’s stock valued at $4,839,000 after buying an additional 172,843 shares during the period. Finally, State Street Corp lifted its position in shares of Smart Global by 2.8% in the first quarter. State Street Corp now owns 595,298 shares of the company’s stock valued at $14,466,000 after buying an additional 16,281 shares during the last quarter.
Smart Global Company Profile
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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