SMART Global Holdings, Inc. (NASDAQ:SGH) Shares Sold by Alpha Paradigm Partners LLC

Posted by on Mar 15th, 2023

Alpha Paradigm Partners LLC lowered its position in SMART Global Holdings, Inc. (NASDAQ:SGH – Get Rating) by 65.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,052 shares of the company’s stock after selling 54,648 shares during the period. Alpha Paradigm Partners LLC owned about 0.06% of SMART Global worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SGH. Royce & Associates LP lifted its position in shares of SMART Global by 129.5% during the 3rd quarter. Royce & Associates LP now owns 48,037 shares of the company’s stock valued at $762,000 after acquiring an additional 27,108 shares during the period. AlphaCrest Capital Management LLC increased its stake in shares of SMART Global by 49.7% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 103,320 shares of the company’s stock worth $1,691,000 after purchasing an additional 34,291 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in SMART Global in the 3rd quarter worth approximately $188,000. Oregon Public Employees Retirement Fund grew its stake in SMART Global by 6.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 16,601 shares of the company’s stock worth $263,000 after acquiring an additional 1,069 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in SMART Global by 25.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 9,945 shares of the company’s stock worth $158,000 after acquiring an additional 2,005 shares during the period.

SMART Global Stock Performance

NASDAQ:SGH opened at $16.00 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.28 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $787.20 million, a price-to-earnings ratio of 16.33 and a beta of 1.35. The firm’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $16.25. SMART Global Holdings, Inc. has a twelve month low of $12.04 and a twelve month high of $27.25.

SMART Global (NASDAQ:SGH – Get Rating) last posted its earnings results on Tuesday, January 3rd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.17. The business had revenue of $465.48 million for the quarter, compared to analyst estimates of $445.86 million. SMART Global had a net margin of 2.84% and a return on equity of 36.71%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.16 EPS. As a group, equities research analysts expect that SMART Global Holdings, Inc. will post 1.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Thierry Pellegrino sold 2,764 shares of the business’s stock in a transaction dated 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on SGH. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of SMART Global in a research note on Monday, February 13th. Needham & Company LLC lifted their target price on shares of SMART Global from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, January 4th. Barclays lifted their target price on shares of SMART Global from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of SMART Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, January 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $26.40.

About SMART Global

(Get Rating)

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.

Featured Articles

Institutional Ownership by Quarter 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.