Smart Global Holdings Inc (NASDAQ:SGH)’s share price shot up 3.1% during mid-day trading on Wednesday . The company traded as high as $45.45 and last traded at $46.31. 542,129 shares were traded during trading, an increase of 19% from the average session volume of 454,279 shares. The stock had previously closed at $44.92.

A number of research firms have issued reports on SGH. Deutsche Bank lifted their price objective on shares of Smart Global from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday. BidaskClub raised shares of Smart Global from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 13th. Zacks Investment Research downgraded shares of Smart Global from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $46.00 price target on shares of Smart Global in a report on Thursday, January 18th. Finally, Stifel Nicolaus boosted their price target on shares of Smart Global from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.56.

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The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 1.50.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, March 22nd. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.40. The company had revenue of $314.00 million during the quarter, compared to analysts’ expectations of $290.06 million. Smart Global’s quarterly revenue was up 82.6% on a year-over-year basis. equities analysts predict that Smart Global Holdings Inc will post 4.76 EPS for the current year.

In other Smart Global news, SVP Kiwan Kim sold 52,835 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $35.62, for a total transaction of $1,881,982.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Bruce M. Goldberg sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $35.76, for a total transaction of $89,400.00. The disclosure for this sale can be found here. Insiders sold a total of 115,333 shares of company stock worth $4,191,346 over the last three months. 6.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA bought a new stake in shares of Smart Global during the fourth quarter valued at about $101,000. SG Americas Securities LLC bought a new stake in shares of Smart Global during the third quarter valued at about $103,000. Legal & General Group Plc bought a new stake in shares of Smart Global during the third quarter valued at about $133,000. Tower Research Capital LLC TRC increased its position in shares of Smart Global by 2,373.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,798 shares of the company’s stock valued at $162,000 after buying an additional 4,604 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in shares of Smart Global during the third quarter valued at about $166,000. 87.00% of the stock is currently owned by institutional investors and hedge funds.

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Smart Global Company Profile

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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