American Century Companies Inc. raised its position in Smart Global Holdings Inc (NASDAQ:SGH) by 121.3% in the third quarter, Holdings Channel reports. The institutional investor owned 237,724 shares of the company’s stock after purchasing an additional 130,315 shares during the period. American Century Companies Inc.’s holdings in Smart Global were worth $6,832,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of SGH. USA Financial Portformulas Corp acquired a new stake in shares of Smart Global in the 3rd quarter valued at about $177,000. Fox Run Management L.L.C. acquired a new stake in shares of Smart Global in the 3rd quarter valued at about $227,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Smart Global in the 2nd quarter valued at about $256,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Smart Global in the 2nd quarter valued at about $285,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Smart Global in the 3rd quarter valued at about $300,000. 86.85% of the stock is owned by institutional investors.
SGH has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Smart Global from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 22nd. BidaskClub lowered shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Stifel Nicolaus upped their target price on shares of Smart Global from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Deutsche Bank cut their target price on shares of Smart Global from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $53.17.
SGH opened at $31.40 on Friday. The stock has a market cap of $698.06 million, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.31 and a beta of 0.26. Smart Global Holdings Inc has a fifty-two week low of $25.84 and a fifty-two week high of $56.69. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 0.98.
Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, October 4th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.06. The firm had revenue of $373.97 million for the quarter, compared to analyst estimates of $368.51 million. Smart Global had a net margin of 9.27% and a return on equity of 92.01%. Smart Global’s quarterly revenue was up 67.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. Sell-side analysts predict that Smart Global Holdings Inc will post 6.61 earnings per share for the current fiscal year.
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Smart Global 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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