ValuEngine upgraded shares of Smart Global (NASDAQ:SGH) from a sell rating to a hold rating in a research report sent to investors on Friday morning, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Smart Global from a hold rating to a strong sell rating in a report on Thursday, June 18th. Rosenblatt Securities reissued a buy rating and set a $45.00 price target on shares of Smart Global in a report on Wednesday, July 8th. Roth Capital cut their price target on shares of Smart Global from $30.00 to $25.00 in a report on Wednesday, April 8th. Deutsche Bank cut their price target on shares of Smart Global from $40.00 to $35.00 and set a buy rating for the company in a report on Friday, March 27th. Finally, Needham & Company LLC assumed coverage on shares of Smart Global in a report on Wednesday, July 8th. They set a buy rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $35.00.

Shares of SGH opened at $26.91 on Friday. Smart Global has a fifty-two week low of $16.42 and a fifty-two week high of $39.08. The company has a market capitalization of $675.74 million, a price-to-earnings ratio of -206.98 and a beta of 1.09. The firm has a 50-day simple moving average of $26.90 and a 200-day simple moving average of $27.88. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.26 and a current ratio of 1.85.

Smart Global (NASDAQ:SGH) last announced its earnings results on Tuesday, July 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $281.30 million during the quarter, compared to the consensus estimate of $282.56 million. Smart Global had a negative net margin of 0.28% and a positive return on equity of 13.02%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Equities research analysts forecast that Smart Global will post 1.77 EPS for the current year.

In other Smart Global news, CFO Jack A. Pacheco sold 11,250 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $30.00, for a total value of $337,500.00. Following the completion of the transaction, the chief financial officer now directly owns 96,458 shares of the company’s stock, valued at $2,893,740. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SGH. State Street Corp boosted its position in Smart Global by 2.8% during the first quarter. State Street Corp now owns 595,298 shares of the company’s stock worth $14,466,000 after acquiring an additional 16,281 shares during the last quarter. Royal Bank of Canada boosted its position in Smart Global by 5,560.2% during the first quarter. Royal Bank of Canada now owns 4,981 shares of the company’s stock worth $121,000 after acquiring an additional 4,893 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in Smart Global during the first quarter worth approximately $45,000. CSS LLC IL acquired a new position in shares of Smart Global in the 1st quarter valued at $408,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Smart Global in the 1st quarter valued at $431,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Smart Global Company Profile

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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