Smart Global Holdings Inc (NASDAQ:SGH) VP Alan Marten sold 25,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $802,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Smart Global Holdings Inc (NASDAQ:SGH) traded down $1.11 during trading hours on Wednesday, hitting $28.10. The company had a trading volume of 1,029,315 shares, compared to its average volume of 286,612. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.45. Smart Global Holdings Inc has a twelve month low of $11.50 and a twelve month high of $43.15.
Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, September 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. The company’s quarterly revenue was up 52.5% compared to the same quarter last year. analysts anticipate that Smart Global Holdings Inc will post 3.59 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Smart Global during the 3rd quarter worth about $103,000. Legal & General Group Plc purchased a new stake in Smart Global in the 3rd quarter valued at about $133,000. Strs Ohio purchased a new stake in Smart Global in the 3rd quarter valued at about $158,000. Macquarie Group Ltd. purchased a new stake in Smart Global in the 3rd quarter valued at about $166,000. Finally, Nationwide Fund Advisors purchased a new stake in Smart Global in the 3rd quarter valued at about $268,000. 92.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on SGH shares. Needham & Company LLC reissued a “strong-buy” rating and set a $43.00 target price (up previously from $40.00) on shares of Smart Global in a research report on Thursday, November 16th. Deutsche Bank boosted their price target 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. Stifel Nicolaus upped their target price on shares of Smart Global from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Citigroup increased their price objective on Smart Global to $35.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. They noted that the move was a valuation call. Finally, Roth Capital raised their price target on 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 stock. Smart Global currently has a consensus rating of “Buy” and an average target price of $36.06.
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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.
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