Smart Global (NASDAQ:SGH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also issued reports on SGH. ValuEngine raised shares of Smart Global from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Roth Capital upped their target price on Smart Global from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank increased their target price on Smart Global from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. BidaskClub downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, TheStreet upgraded Smart Global from a “d+” rating to a “c” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $37.67.

NASDAQ:SGH traded up $0.91 during mid-day trading on Wednesday, reaching $32.08. The company’s stock had a trading volume of 2,264 shares, compared to its average volume of 141,931. Smart Global has a 1 year low of $16.94 and a 1 year high of $35.10. The stock has a fifty day moving average of $29.00 and a 200-day moving average of $24.22. The firm has a market capitalization of $740.18 million, a PE ratio of 5.35, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78.

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

In other Smart Global news, insider Stephen C. Dow purchased 17,059 shares of Smart Global stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average cost of $31.49 per share, with a total value of $537,187.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kiwan Kim sold 7,084 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $31.77, for a total value of $225,058.68. The disclosure for this sale can be found here. Insiders sold a total of 11,551 shares of company stock worth $357,998 over the last 90 days. Company insiders own 4.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SGH. FMR LLC purchased a new stake in shares of Smart Global during the first quarter valued at $7,757,000. Brown Advisory Inc. lifted its position in Smart Global by 65.0% during the second quarter. Brown Advisory Inc. now owns 714,916 shares of the company’s stock valued at $16,435,000 after purchasing an additional 281,511 shares during the period. Kennedy Capital Management Inc. lifted its position in Smart Global by 106.0% during the first 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 during the period. Victory Capital Management Inc. purchased a new stake in Smart Global in the first quarter valued at $2,726,000. Finally, AQR Capital Management LLC boosted its holdings in Smart Global by 80.6% in the second quarter. AQR Capital Management LLC now owns 290,579 shares of the company’s stock valued at $6,680,000 after purchasing an additional 129,658 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

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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