Brokerages Set SMART Global Holdings, Inc. (NASDAQ:SGH) Price Target at $64.43

SMART Global Holdings, Inc. (NASDAQ:SGH) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $66.43.

SGH has been the topic of a number of research analyst reports. Zacks Investment Research raised SMART Global from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, July 13th. TheStreet raised shares of SMART Global from a “c” rating to a “b-” rating in a research note on Tuesday. Stifel Nicolaus increased their target price on shares of SMART Global from $62.50 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 7th. They noted that the move was a valuation call. Needham & Company LLC lifted their target price on SMART Global from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group upped their target price on SMART Global from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 7th.

In other SMART Global news, Director Ajay Shah sold 11,647 shares of the firm’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $45.00, for a total value of $524,115.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $42.09, for a total transaction of $315,675.00. Following the transaction, the chief operating officer now directly owns 97,909 shares in the company, valued at approximately $4,120,989.81. The disclosure for this sale can be found here. Insiders sold 26,647 shares of company stock worth $1,192,140 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Jefferies Group LLC grew its position in SMART Global by 1,598.9% during the second quarter. Jefferies Group LLC now owns 477,073 shares of the company’s stock worth $22,747,000 after buying an additional 448,991 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SMART Global during the 1st quarter worth approximately $347,000. Kennedy Capital Management Inc. increased its position in shares of SMART Global by 87.1% during the first quarter. Kennedy Capital Management Inc. now owns 140,362 shares of the company’s stock valued at $6,459,000 after purchasing an additional 65,362 shares during the period. Factorial Partners LLC raised its stake in shares of SMART Global by 1,531.1% in the first quarter. Factorial Partners LLC now owns 386,568 shares of the company’s stock valued at $8,400,000 after purchasing an additional 362,868 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in SMART Global by 2.2% in the first quarter. Prudential Financial Inc. now owns 16,965 shares of the company’s stock worth $781,000 after purchasing an additional 360 shares during the period.

SMART Global stock opened at $51.72 on Monday. SMART Global has a 12-month low of $24.37 and a 12-month high of $58.39. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.64 and a quick ratio of 1.05. The stock has a market capitalization of $1.25 billion, a PE ratio of 166.84 and a beta of 0.94. The firm has a 50 day simple moving average of $46.68 and a 200-day simple moving average of $47.76.

SMART Global (NASDAQ:SGH) last released its earnings results on Monday, October 11th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.56. SMART Global had a return on equity of 25.39% and a net margin of 0.62%. The firm had revenue of $467.71 million during the quarter, compared to the consensus estimate of $461.00 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 57.5% compared to the same quarter last year. On average, analysts forecast that SMART Global will post 3.52 earnings per share for the current fiscal year.

About SMART Global

SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).

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Analyst Recommendations for SMART Global (NASDAQ:SGH)

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