BidaskClub upgraded shares of Smart Global (NASDAQ:SGH) from a hold rating to a buy rating in a research report report published on Thursday morning, BidAskClub reports.

A number of other brokerages also recently issued reports on SGH. Barclays increased their price target on shares of Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. TheStreet raised shares of Smart Global from a d+ rating to a c rating in a report on Monday, July 29th. ValuEngine raised shares of Smart Global from a sell rating to a hold rating in a report on Thursday, July 11th. Deutsche Bank increased their price target on shares of Smart Global from $30.00 to $36.00 and gave the stock a buy rating in a report on Thursday, August 8th. Finally, Zacks Investment Research downgraded shares of Smart Global from a buy rating to a hold rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $37.67.

Shares of Smart Global stock traded down $0.22 on Thursday, reaching $31.04. The stock had a trading volume of 10,255 shares, compared to its average volume of 144,599. Smart Global has a 1 year low of $16.94 and a 1 year high of $35.10. The company has a market cap of $719.44 million, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $29.00 and its two-hundred day moving average is $24.23.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.19 earnings per share (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 analysts’ expectations of $264.98 million. During the same period in the previous year, the company posted $1.84 earnings per share. The company’s quarterly revenue was down 29.7% compared to the same quarter last year. On average, equities analysts anticipate that Smart Global will post 2.92 EPS for the current fiscal year.

In related news, SVP Kiwan Kim sold 7,084 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $31.77, for a total value of $225,058.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Bruce M. Goldberg sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.71, for a total transaction of $60,962.00. The disclosure for this sale can be found here. Insiders sold 11,551 shares of company stock worth $357,998 over the last ninety days. 4.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC raised its stake in shares of Smart Global by 45.6% during the second quarter. Meadow Creek Investment Management LLC now owns 2,400 shares of the company’s stock worth $55,000 after acquiring an additional 752 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Smart Global by 3.6% during the first quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock worth $446,000 after acquiring an additional 798 shares in the last quarter. Neuburgh Advisers LLC raised its stake in shares of Smart Global by 45.6% during the second quarter. Neuburgh Advisers LLC now owns 3,300 shares of the company’s stock worth $76,000 after acquiring an additional 1,034 shares in the last quarter. Yorktown Management & Research Co Inc raised its stake in shares of Smart Global by 7.6% during the first quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock worth $347,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Tyers Asset Management LLC raised its stake in shares of Smart Global by 45.6% during the second quarter. Tyers Asset Management LLC now owns 4,200 shares of the company’s stock worth $97,000 after acquiring an additional 1,316 shares in the last quarter. 94.69% of the stock is currently 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.

Featured Article: Stock Split

Analyst Recommendations for Smart Global (NASDAQ:SGH)

Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.