Boothbay Fund Management LLC decreased its holdings in shares of SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) by 57.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,311 shares of the company’s stock after selling 22,265 shares during the quarter. Boothbay Fund Management LLC’s holdings in SMART Global were worth $259,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of SMART Global by 101.0% in the first quarter. Vanguard Group Inc. now owns 4,271,672 shares of the company’s stock valued at $110,338,000 after purchasing an additional 2,146,056 shares during the period. State Street Corp increased its stake in shares of SMART Global by 103.3% in the first quarter. State Street Corp now owns 2,723,420 shares of the company’s stock valued at $70,346,000 after purchasing an additional 1,383,982 shares during the period. Clearbridge Investments LLC increased its stake in shares of SMART Global by 323.3% in the first quarter. Clearbridge Investments LLC now owns 1,563,323 shares of the company’s stock valued at $40,381,000 after purchasing an additional 1,194,012 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of SMART Global by 93.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,369,486 shares of the company’s stock valued at $35,375,000 after purchasing an additional 662,841 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of SMART Global by 97.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,062,370 shares of the company’s stock valued at $27,441,000 after purchasing an additional 525,616 shares during the period.
Insider Buying and Selling
In related news, SVP Thierry Pellegrino sold 2,764 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $16.62, for a total value of $45,937.68. Following the completion of the transaction, the senior vice president now owns 80,167 shares of the company’s stock, valued at approximately $1,332,375.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.
SMART Global Trading Up 1.7 %
SMART Global (NASDAQ:SGH – Get Rating) last issued its earnings results on Tuesday, January 3rd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.17. The firm had revenue of $465.48 million during the quarter, compared to analysts’ expectations of $445.86 million. SMART Global had a net margin of 2.84% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. On average, research analysts anticipate that SMART Global Holdings, Inc. will post 1.46 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SGH has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price objective on shares of SMART Global in a research note on Monday, February 13th. Barclays raised their price objective on shares of SMART Global from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, January 4th. Needham & Company LLC raised their price objective on shares of SMART Global from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of SMART Global from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, January 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, SMART Global presently has an average rating of “Buy” and an average price target of $26.40.
SMART Global Company Profile
SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Memory Solutions, Intelligent Platform Solutions (IPS), and LED Solutions.
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