Smart Global Holdings’ (SGH) “Buy” Rating Reaffirmed at Jefferies Group LLC
Smart Global Holdings Inc (NYSE:SGH)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a report released on Monday. They presently have a $28.50 target price on the stock, up from their previous target price of $23.00. Jefferies Group LLC’s target price would suggest a potential upside of 6.42% from the company’s previous close.
Several other equities research analysts also recently commented on the company. Needham & Company LLC boosted their target price on Smart Global Holdings and gave the stock a “buy” rating in a report on Monday. Barclays PLC raised their price target on Smart Global Holdings from $19.00 to $28.00 and gave the company a “positive” rating in a report on Friday. Stifel Nicolaus restated a “buy” rating and set a $32.00 price target (up from $27.00) on shares of Smart Global Holdings in a report on Thursday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 price target (up previously from $20.00) on shares of Smart Global Holdings in a research report on Thursday, September 14th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $30.00 price target (up previously from $24.00) on shares of Smart Global Holdings in a research report on Friday, September 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $29.92.
Shares of Smart Global Holdings (NYSE:SGH) traded up 4.48% during mid-day trading on Monday, reaching $27.98. 286,447 shares of the company’s stock were exchanged. The firm has a market capitalization of $606.52 million and a P/E ratio of 399.71. The stock has a 50-day moving average of $19.81 and a 200 day moving average of $17.32. Smart Global Holdings has a one year low of $11.50 and a one year high of $28.34.
Smart Global Holdings (NYSE:SGH) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $223.00 million during the quarter, compared to analyst estimates of $210.54 million. The business’s revenue for the quarter was up 52.5% on a year-over-year basis. On average, analysts forecast that Smart Global Holdings will post $3.12 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in SGH. Spark Investment Management LLC bought a new position in Smart Global Holdings in the 2nd quarter valued at approximately $184,000. Canada Pension Plan Investment Board purchased a new stake in Smart Global Holdings during the 2nd quarter valued at $10,231,000. Symphony Asset Management LLC purchased a new stake in Smart Global Holdings during the 2nd quarter valued at $1,286,000. Ameriprise Financial Inc. purchased a new stake in Smart Global Holdings during the 2nd quarter valued at $7,126,000. Finally, Laurion Capital Management LP purchased a new stake in Smart Global Holdings during the 2nd quarter valued at $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.
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