GSA Capital Partners LLP Decreases Position in Smart Global Holdings Inc (SGH)
GSA Capital Partners LLP cut its holdings in shares of Smart Global Holdings Inc (NASDAQ:SGH) by 30.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,124 shares of the company’s stock after selling 23,142 shares during the period. GSA Capital Partners LLP owned about 0.23% of Smart Global worth $1,527,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in Smart Global by 13.2% during the 2nd quarter. Macquarie Group Ltd. now owns 20,600 shares of the company’s stock worth $657,000 after buying an additional 2,400 shares during the period. Engineers Gate Manager LP boosted its position in Smart Global by 27.6% during the 2nd quarter. Engineers Gate Manager LP now owns 11,400 shares of the company’s stock worth $363,000 after buying an additional 2,465 shares during the period. Martingale Asset Management L P boosted its position in Smart Global by 7.1% during the 3rd quarter. Martingale Asset Management L P now owns 46,733 shares of the company’s stock worth $1,344,000 after buying an additional 3,103 shares during the period. Chicago Equity Partners LLC boosted its position in Smart Global by 2.4% during the 3rd quarter. Chicago Equity Partners LLC now owns 147,130 shares of the company’s stock worth $4,229,000 after buying an additional 3,420 shares during the period. Finally, Ativo Capital Management LLC boosted its position in Smart Global by 13.8% during the 3rd quarter. Ativo Capital Management LLC now owns 33,011 shares of the company’s stock worth $949,000 after buying an additional 4,003 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Smart Global from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, August 22nd. Roth Capital dropped their price target on shares of Smart Global from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 5th. Deutsche Bank dropped their price target on shares of Smart Global from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, October 5th. Stifel Nicolaus boosted their price target on shares of Smart Global from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, October 5th. Finally, BidaskClub downgraded shares of Smart Global from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.17.
Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.06. The firm had revenue of $373.97 million for the quarter, compared to the consensus estimate of $368.51 million. Smart Global had a net margin of 9.27% and a return on equity of 92.01%. The company’s revenue for the quarter was up 67.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. On average, equities research analysts expect that Smart Global Holdings Inc will post 6.61 EPS for the current year.
In other news, Director Iain Mackenzie sold 98,797 shares of Smart Global stock in a transaction on Monday, November 19th. The shares were sold at an average price of $30.52, for a total value of $3,015,284.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce M. Goldberg sold 3,836 shares of Smart Global stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $30.08, for a total transaction of $115,386.88. The disclosure for this sale can be found here. Insiders sold a total of 312,460 shares of company stock valued at $9,889,722 in the last quarter. 6.90% of the stock is currently owned by company insiders.
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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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