Smart Global Holdings Inc (NASDAQ:SGH) Director Mukesh Patel sold 33,458 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $1,074,001.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Smart Global Holdings Inc (SGH) opened at $31.11 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 1.87. Smart Global Holdings Inc has a one year low of $11.50 and a one year high of $43.15.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to the consensus estimate of $255.03 million. The firm’s quarterly revenue was up 66.6% compared to the same quarter last year. equities analysts forecast that Smart Global Holdings Inc will post 3.59 EPS for the current year.
A number of analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price target (up from $40.00) on shares of Smart Global in a report on Friday. Needham & Company LLC reissued a “strong-buy” rating and set a $43.00 price target (up from $40.00) on shares of Smart Global in a report on Thursday, November 16th. Deutsche Bank raised their price objective on shares of Smart Global from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Citigroup raised their price objective on shares of Smart Global to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Finally, Roth Capital lifted their price objective on shares of Smart Global from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Smart Global has a consensus rating of “Buy” and an average target price of $36.94.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Smart Global in the third quarter valued at approximately $103,000. Legal & General Group Plc bought a new stake in shares of Smart Global in the third quarter worth $133,000. Strs Ohio bought a new stake in shares of Smart Global in the third quarter worth $158,000. Macquarie Group Ltd. bought a new stake in shares of Smart Global in the third quarter worth $166,000. Finally, Nationwide Fund Advisors bought a new stake in shares of Smart Global in the third quarter worth $268,000. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
About Smart Global
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.