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.
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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