Other equities analysts have also recently issued research reports about the company. Needham & Company LLC dropped their price target on to $10.00 and set a buy rating on the stock in a research report on Wednesday. Roth Capital dropped their price target on Smart Global from $40.00 to $30.00 and set a buy rating on the stock in a research report on Friday, March 29th. TheStreet cut UDR from a b rating to a c rating in a research report on Tuesday, April 30th. Barclays boosted their price target on Smart Global from $24.00 to $30.00 and gave the company an overweight rating in a research report on Wednesday. Finally, Deutsche Bank boosted their price target on Welltower from $61.00 to $71.00 and gave the company a hold rating in a research report on Friday, March 29th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $35.33.
Shares of SGH stock opened at $31.47 on Thursday. The firm has a market cap of $726.36 million, a PE ratio of 7.85, a PEG ratio of 0.72 and a beta of 1.21. Smart Global has a 52-week low of $16.94 and a 52-week high of $35.10. The firm has a 50-day moving average of $20.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66.
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). The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $264.98 million. Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The business’s revenue was down 29.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. As a group, equities research analysts predict that Smart Global will post 2.92 earnings per share for the current year.
In other Smart Global news, VP Bruce M. Goldberg sold 2,381 shares of Smart Global stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $18.39, for a total value of $43,786.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Bruce M. Goldberg sold 2,000 shares of Smart Global stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.13, for a total value of $44,260.00. The disclosure for this sale can be found here. Insiders sold a total of 14,381 shares of company stock worth $301,147 in the last ninety days. 4.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SGH. Park West Asset Management LLC purchased a new stake in shares of Smart Global during the 4th quarter worth approximately $59,400,000. BlackRock Inc. boosted its stake in shares of Smart Global by 137.4% during the 4th quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock worth $49,339,000 after acquiring an additional 961,590 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Smart Global by 26.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 535,401 shares of the company’s stock worth $15,902,000 after acquiring an additional 112,077 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in shares of Smart Global by 106.0% during the 1st quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock worth $8,738,000 after acquiring an additional 234,183 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new stake in shares of Smart Global during the 4th quarter worth approximately $13,005,000. 97.83% 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.
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