Smart Global Holdings Inc (NYSE:SGH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm presently has a $34.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.11% from the company’s previous close.

According to Zacks, “Smart Global Holdings Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets. The company operates primarily in the U.S., Europe, Asia and Latin America. Smart Global Holdings Inc. is headquartered in Newark, California. “

SGH has been the topic of several other reports. Roth Capital restated a “buy” rating and set a $30.00 target price (up from $24.00) on shares of Smart Global Holdings in a research note on Friday, September 8th. Barclays PLC began coverage on Smart Global Holdings in a research note on Monday, June 19th. They set an “overweight” rating and a $19.00 target price on the stock. Jefferies Group LLC began coverage on Smart Global Holdings in a research note on Monday, June 19th. They set a “buy” rating and a $21.00 target price on the stock. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up from $27.00) on shares of Smart Global Holdings in a research note on Thursday, September 28th. Finally, Deutsche Bank AG restated a “buy” rating and set a $28.00 target price (up from $25.00) on shares of Smart Global Holdings in a research note on Monday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Smart Global Holdings has a consensus rating of “Buy” and a consensus target price of $30.50.

Shares of Smart Global Holdings (NYSE:SGH) opened at 30.60 on Thursday. Smart Global Holdings has a 52 week low of $11.50 and a 52 week high of $31.60. The firm’s market cap is $633.63 million. The stock has a 50 day moving average of $21.65 and a 200-day moving average of $18.15.

Smart Global Holdings (NYSE:SGH) last announced its earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $210.54 million. The firm’s revenue for the quarter was up 52.5% on a year-over-year basis. Equities research analysts expect that Smart Global Holdings will post $3.12 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of SGH. FMR LLC purchased a new stake in Smart Global Holdings during the 2nd quarter valued at about $13,569,000. Canada Pension Plan Investment Board purchased a new stake in Smart Global Holdings during the 2nd quarter valued at about $10,231,000. Ameriprise Financial Inc. purchased a new stake in Smart Global Holdings during the 2nd quarter valued at about $7,126,000. Crosslink Capital Inc. purchased a new stake in Smart Global Holdings during the 2nd quarter valued at about $2,358,000. Finally, Empyrean Capital Partners LP purchased a new stake in Smart Global Holdings during the 2nd quarter valued at about $1,741,000.

Smart Global Holdings Company Profile

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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