Smart Global Holdings Inc (NASDAQ:SGH) Receives Average Recommendation of “Buy” from Analysts

Shares of Smart Global Holdings Inc (NASDAQ:SGH) have earned an average rating of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $35.60.

Several equities research analysts recently weighed in on the company. ValuEngine raised Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Roth Capital cut their price objective on Smart Global from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 29th. Barclays raised their price objective on Smart Global from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. BidaskClub raised Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Finally, Deutsche Bank raised their price objective on Welltower from $61.00 to $71.00 and gave the company a “hold” rating in a report on Friday, March 29th.

Shares of SGH traded down $0.18 during midday trading on Tuesday, hitting $31.41. The company’s stock had a trading volume of 349,297 shares, compared to its average volume of 580,079. Smart Global has a one year low of $16.94 and a one year high of $35.10. The company’s fifty day moving average price is $21.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66. The company has a market cap of $729.10 million, a PE ratio of 5.24, a price-to-earnings-growth ratio of 0.72 and a beta of 1.20.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $264.98 million. During the same quarter in the previous year, the business posted $1.84 EPS. The company’s revenue for the quarter was down 29.7% on a year-over-year basis. As a group, equities analysts forecast that Smart Global will post 2.92 EPS for the current year.

In other Smart Global news, VP Bruce M. Goldberg sold 2,000 shares of Smart Global stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.13, for a total transaction of $44,260.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bruce M. Goldberg sold 2,381 shares of Smart Global stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.39, for a total value of $43,786.59. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Several large investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc lifted its stake in shares of Smart Global by 42.9% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the company’s stock valued at $59,000 after purchasing an additional 600 shares during the period. First Trust Advisors LP lifted its stake in shares of Smart Global by 3.6% in the 1st quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock valued at $446,000 after purchasing an additional 798 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Smart Global by 116.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,232 shares of the company’s stock valued at $66,000 after purchasing an additional 1,202 shares during the period. Yorktown Management & Research Co Inc lifted its stake in shares of Smart Global by 7.6% in the 1st quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock valued at $347,000 after purchasing an additional 1,276 shares during the period. Finally, Alps Advisors Inc. lifted its stake in shares of Smart Global by 9.8% in the 1st quarter. Alps Advisors Inc. now owns 16,973 shares of the company’s stock valued at $326,000 after purchasing an additional 1,520 shares during the period. 97.15% of the stock is currently owned by institutional investors.

About Smart Global

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Analyst Recommendations for Smart Global (NASDAQ:SGH)

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