TheStreet Upgrades SMART Global (NASDAQ:SGH) to B-

SMART Global (NASDAQ:SGH) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a research report issued on Tuesday, TheStreetRatingsTable reports.

A number of other equities research analysts also recently weighed in on SGH. Stifel Nicolaus boosted their price target on SMART Global from $62.50 to $66.00 and gave the company a “buy” rating in a report on Wednesday, July 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded SMART Global from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Tuesday, July 13th. Needham & Company LLC boosted their price target on SMART Global from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on SMART Global from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on SMART Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.43.

SMART Global stock opened at $51.72 on Tuesday. The stock’s 50 day moving average price is $46.62 and its 200 day moving average price is $47.73. The firm has a market capitalization of $1.25 billion, a PE ratio of 166.84 and a beta of 0.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.05 and a current ratio of 1.64. SMART Global has a one year low of $24.37 and a one year high of $58.39.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Monday, October 11th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.56. SMART Global had a return on equity of 25.39% and a net margin of 0.62%. The company had revenue of $467.71 million for the quarter, compared to the consensus estimate of $461.00 million. During the same period in the previous year, the business earned $0.69 EPS. SMART Global’s revenue for the quarter was up 57.5% compared to the same quarter last year. On average, analysts forecast that SMART Global will post 3.52 earnings per share for the current fiscal year.

In related news, COO Jack A. Pacheco sold 7,500 shares of the company’s stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $46.98, for a total transaction of $352,350.00. Following the transaction, the chief operating officer now directly owns 97,909 shares of the company’s stock, valued at $4,599,764.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ajay Shah sold 11,647 shares of the company’s stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $45.00, for a total value of $524,115.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,647 shares of company stock valued at $1,192,140. Insiders own 4.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors boosted its stake in SMART Global by 2,724.0% during the 1st quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $32,000 after purchasing an additional 681 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in SMART Global during the 2nd quarter valued at approximately $45,000. NEXT Financial Group Inc boosted its stake in SMART Global by 11,904.8% during the 2nd quarter. NEXT Financial Group Inc now owns 2,521 shares of the company’s stock valued at $120,000 after purchasing an additional 2,500 shares during the period. Amundi bought a new stake in SMART Global during the 2nd quarter valued at approximately $170,000. Finally, LPL Financial LLC bought a new stake in SMART Global during the 2nd quarter valued at approximately $203,000.

About SMART Global

SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).

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Analyst Recommendations for SMART Global (NASDAQ:SGH)

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