SMART Global (NASDAQ:SGH) Stock Price Up 4.7%

Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) were up 4.7% on Wednesday . The company traded as high as $23.54 and last traded at $23.45. Approximately 190,159 shares changed hands during trading, a decline of 82% from the average daily volume of 1,028,041 shares. The stock had previously closed at $22.39.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price target on shares of SMART Global in a research note on Tuesday, May 7th. Stifel Nicolaus upped their target price on SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a research report on Wednesday, April 10th.

SMART Global Stock Performance

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -6.34 and a beta of 1.76. The firm has a fifty day moving average of $20.17 and a 200 day moving average of $21.03. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. The firm had revenue of $284.82 million for the quarter, compared to analyst estimates of $285.18 million. On average, sell-side analysts anticipate that SMART Global Holdings, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the transaction, the insider now owns 92,386 shares in the company, valued at approximately $1,657,404.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Adams acquired 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the purchase, the chief executive officer now owns 29,640 shares in the company, valued at approximately $556,935.60. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SMART Global

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in SMART Global by 42.9% during the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after purchasing an additional 469 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in SMART Global by 32,469.2% during the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock valued at $80,000 after acquiring an additional 4,221 shares during the period. Mutual of America Capital Management LLC acquired a new position in SMART Global in the 1st quarter valued at about $235,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in SMART Global by 48.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company’s stock valued at $245,000 after acquiring an additional 4,253 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in SMART Global during the first quarter worth about $274,000.

About SMART Global

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.