A number of other analysts also recently commented on SGH. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Barclays upped their price objective on Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday. Needham & Company LLC dropped their price objective on to $10.00 and set a buy rating for the company in a report on Wednesday. Deutsche Bank upped their price objective on Welltower from $61.00 to $71.00 and gave the stock a hold rating in a report on Friday, March 29th. Finally, BidaskClub upgraded Xilinx from a hold rating to a buy rating in a report on Saturday, June 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $35.33.
SGH stock opened at $31.47 on Thursday. The firm has a market cap of $726.36 million, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 0.72 and a beta of 1.21. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average price is $20.53. Smart Global has a 52 week low of $16.94 and a 52 week high of $35.10.
Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The company’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.84 earnings per share. As a group, equities analysts forecast that Smart Global will post 2.92 earnings per share for the current year.
In related news, Director Iain Mackenzie sold 10,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $21.31, for a total value of $213,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce M. Goldberg sold 2,000 shares of the stock in a transaction 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. Over the last quarter, insiders sold 14,381 shares of company stock valued at $301,147. 4.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA purchased a new position in Smart Global in the 1st quarter valued at about $47,000. NumerixS Investment Technologies Inc boosted its position in 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 buying an additional 600 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in 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 buying an additional 1,202 shares during the last quarter. First Quadrant L P CA purchased a new position in Smart Global in the 1st quarter valued at about $83,000. Finally, Meeder Asset Management Inc. boosted its position in Smart Global by 54.0% in the 1st quarter. Meeder Asset Management Inc. now owns 5,557 shares of the company’s stock valued at $108,000 after buying an additional 1,948 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.
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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