Smart Global (NASDAQ:SGH) had its target price upped by Needham & Company LLC to $40.00 in a report released on Wednesday morning, The Fly reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also commented on SGH. Deutsche Bank raised their price objective on shares of Welltower from $61.00 to $71.00 and gave the stock a hold rating in a research note on Friday, March 29th. Barclays raised their price objective on shares of Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a research note on Wednesday. BidaskClub raised shares of Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. TheStreet lowered shares of UDR from a b rating to a c rating in a research note on Tuesday, April 30th. Finally, Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $35.33.

Smart Global stock opened at $31.47 on Wednesday. The business has a 50 day moving average price of $20.53. Smart Global has a 52 week low of $16.94 and a 52 week high of $35.10. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78. The firm has a market cap of $726.36 million, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 0.72 and a beta of 1.21.

Smart Global (NASDAQ:SGH) last posted 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). Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The firm had revenue of $235.70 million during the quarter, compared to analyst estimates of $264.98 million. During the same period in the prior year, the business posted $1.84 EPS. The company’s revenue for the quarter was down 29.7% on a year-over-year basis. Equities analysts expect that Smart Global will post 2.92 earnings per share for the current year.

In other Smart Global news, VP Bruce M. Goldberg sold 2,381 shares of Smart Global stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.39, for a total transaction of $43,786.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iain Mackenzie sold 10,000 shares of Smart Global stock in a transaction on Monday, April 15th. The shares were sold at an average price of $21.31, for a total transaction of $213,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,381 shares of company stock valued at $301,147 in the last three months. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Park West Asset Management LLC bought a new position in shares of Smart Global during the 4th quarter valued at $59,400,000. BlackRock Inc. raised its holdings in shares of Smart Global by 137.4% during the 4th quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock valued at $49,339,000 after purchasing an additional 961,590 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Smart Global by 26.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 535,401 shares of the company’s stock valued at $15,902,000 after purchasing an additional 112,077 shares in the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of Smart Global by 106.0% during the 1st quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after purchasing an additional 234,183 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Smart Global during the 4th quarter valued at $13,005,000. Institutional investors and hedge funds 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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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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