Smart Global (NASDAQ:SGH) had its target price increased by Needham & Company LLC from $43.00 to $46.00 in a report released on Tuesday, December 26th, MarketBeat reports. Needham & Company LLC currently has a strong-buy rating on the stock.
Other analysts have also recently issued research reports about the stock. Roth Capital raised their price objective on shares of Smart Global from $30.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, October 11th. Barclays raised their price objective on shares of Smart Global from $19.00 to $28.00 and gave the company a positive rating in a research note on Friday, September 29th. Stifel Nicolaus lifted their target price on shares of Smart Global from $35.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, November 16th. Deutsche Bank lifted their target price on shares of Smart Global to $45.00 and gave the stock a buy rating in a research report on Friday, December 22nd. Finally, Citigroup lifted their target price on shares of Smart Global to $35.00 and gave the stock a buy rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $39.19.
Shares of Smart Global (NASDAQ SGH) opened at $34.63 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 1.50. Smart Global has a 52 week low of $11.50 and a 52 week high of $43.15. The company has a market cap of $753.23 and a PE ratio of 62.96.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, December 21st. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to analyst estimates of $255.03 million. The company’s revenue for the quarter was up 66.6% compared to the same quarter last year. research analysts forecast that Smart Global will post 4.76 EPS for the current fiscal year.
In other Smart Global news, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $31.06, for a total transaction of $232,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kiwan Kim sold 52,835 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $35.62, for a total transaction of $1,881,982.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,319,457 shares of company stock valued at $106,789,483. 6.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Smart Global in the third quarter valued at approximately $379,000. California State Teachers Retirement System acquired a new position in shares of Smart Global in the third quarter valued at approximately $868,000. OxFORD Asset Management LLP acquired a new position in shares of Smart Global in the third quarter valued at approximately $304,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Smart Global in the third quarter valued at approximately $919,000. Finally, Citadel Advisors LLC acquired a new position in shares of Smart Global in the third quarter valued at approximately $573,000. 91.84% of the stock is owned by institutional investors and hedge funds.
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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