Smart Global Holdings Inc (NYSE:SGH) had its price target upped by analysts at Needham & Company LLC in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the stock.

SGH has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of Smart Global Holdings in a report on Sunday, June 25th. Roth Capital began coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $24.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Smart Global Holdings in a research note on Monday, June 19th. They issued a “buy” rating and a $27.00 target price for the company. Deutsche Bank AG initiated coverage on shares of Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Smart Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Smart Global Holdings presently has an average rating of “Buy” and an average target price of $27.67.

Shares of Smart Global Holdings (NYSE SGH) traded up 0.9201% on Monday, reaching $27.0264. The company had a trading volume of 139,297 shares. The company’s 50-day moving average is $19.81 and its 200 day moving average is $17.32. Smart Global Holdings has a 12 month low of $11.50 and a 12 month high of $27.52. The firm has a market capitalization of $585.85 million and a PE ratio of 386.0914.

Smart Global Holdings (NYSE:SGH) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. The firm had revenue of $223.00 million during the quarter, compared to analyst estimates of $210.54 million. Smart Global Holdings’s quarterly revenue was up 52.5% compared to the same quarter last year. Equities analysts forecast that Smart Global Holdings will post $2.80 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. Spark Investment Management LLC bought a new stake in Smart Global Holdings during the 2nd quarter worth about $184,000. Canada Pension Plan Investment Board acquired a new position in Smart Global Holdings during the 2nd quarter valued at about $10,231,000. Symphony Asset Management LLC acquired a new position in Smart Global Holdings during the 2nd quarter valued at about $1,286,000. Ameriprise Financial Inc. acquired a new position in Smart Global Holdings during the 2nd quarter valued at about $7,126,000. Finally, Laurion Capital Management LP acquired a new position in Smart Global Holdings during the 2nd quarter valued at about $324,000.

About Smart Global Holdings

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

Analyst Recommendations for Smart Global Holdings (NYSE:SGH)

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