SMART Global (SGH) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of SMART Global (NASDAQ:SGH) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Smart Global Holdings Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets. The company operates primarily in the U.S., Europe, Asia and Latin America. Smart Global Holdings Inc. is headquartered in Newark, California. “

SGH has been the subject of several other research reports. BidaskClub upgraded shares of SMART Global from a buy rating to a strong-buy rating in a research note on Tuesday, March 13th. Stifel Nicolaus upped their target price on shares of SMART Global from $47.00 to $56.00 and gave the stock a buy rating in a research note on Friday, March 23rd. Barclays upped their target price on shares of SMART Global from $40.00 to $55.00 and gave the stock an equal weight rating in a research note on Friday, March 23rd. Deutsche Bank upped their target price on shares of SMART Global from $45.00 to $48.00 and gave the stock a buy rating in a research note on Monday, March 19th. Finally, Needham & Company LLC upped their target price on shares of SMART Global from $46.00 to $75.00 and gave the stock a buy rating in a research note on Friday, March 23rd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $51.19.

Shares of SGH stock opened at $45.51 on Wednesday. The firm has a market cap of $1.00 billion and a price-to-earnings ratio of 11.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.62 and a quick ratio of 1.08. SMART Global has a 12 month low of $12.28 and a 12 month high of $56.69.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Thursday, March 22nd. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.40. SMART Global had a net margin of 5.50% and a return on equity of 100.66%. The business had revenue of $314.00 million during the quarter, compared to analyst estimates of $290.06 million. The business’s revenue for the quarter was up 82.6% compared to the same quarter last year. analysts forecast that SMART Global will post 5.94 EPS for the current year.

In related news, VP Alan Marten sold 8,500 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $41.57, for a total transaction of $353,345.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kiwan Kim sold 9,914 shares of the stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $44.95, for a total transaction of $445,634.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,114,770 shares of company stock valued at $95,600,936. Company insiders own 6.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SGH. Compagnie Lombard Odier SCmA purchased a new stake in SMART Global during the fourth quarter valued at about $101,000. Optimum Investment Advisors purchased a new stake in SMART Global during the first quarter valued at about $128,000. C M Bidwell & Associates Ltd. purchased a new stake in SMART Global during the first quarter valued at about $154,000. Tower Research Capital LLC TRC lifted its holdings in SMART Global by 2,373.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,798 shares of the company’s stock valued at $162,000 after purchasing an additional 4,604 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in SMART Global during the fourth quarter valued at about $193,000. Institutional investors own 86.27% of the company’s stock.

SMART Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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Analyst Recommendations for SMART Global (NASDAQ:SGH)

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