Royce & Associates LP Decreases Stock Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Posted by on Aug 6th, 2023

Royce & Associates LP lessened its holdings in SMART Global Holdings, Inc. (NASDAQ:SGH – Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,900 shares of the company’s stock after selling 20,273 shares during the period. Royce & Associates LP owned about 0.11% of SMART Global worth $929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in SMART Global by 5.2% during the third quarter. Vanguard Group Inc. now owns 4,540,412 shares of the company’s stock valued at $72,056,000 after purchasing an additional 222,867 shares during the last quarter. State Street Corp raised its stake in SMART Global by 1.9% during the third quarter. State Street Corp now owns 2,822,430 shares of the company’s stock worth $44,792,000 after acquiring an additional 52,397 shares during the period. Clearbridge Investments LLC boosted its stake in SMART Global by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 1,986,340 shares of the company’s stock valued at $29,557,000 after acquiring an additional 8,024 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of SMART Global by 93.8% during 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 last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of SMART Global by 97.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,062,370 shares of the company’s stock worth $27,441,000 after purchasing an additional 525,616 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SGH. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 target price on shares of SMART Global in a research report on Friday, July 14th. Rosenblatt Securities reissued a “buy” rating and set a $35.00 target price on shares of SMART Global in a research note on Friday, June 30th. Stifel Nicolaus raised their price target on shares of SMART Global from $27.00 to $32.00 in a research note on Wednesday, June 28th. Barclays boosted their price objective on SMART Global from $20.00 to $30.00 in a research report on Wednesday, June 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on SMART Global from $28.00 to $34.00 in a research note on Friday, June 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, SMART Global has a consensus rating of “Buy” and a consensus price target of $33.60.

Insider Buying and Selling at SMART Global

In other news, COO Jack A. Pacheco sold 2,500 shares of SMART Global stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the transaction, the chief operating officer now owns 205,511 shares of the company’s stock, valued at approximately $4,110,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Jack A. Pacheco sold 2,500 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief operating officer now directly owns 205,511 shares of the company’s stock, valued at approximately $4,110,220. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Thierry Pellegrino sold 3,029 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $25.00, for a total value of $75,725.00. Following the sale, the senior vice president now directly owns 71,922 shares in the company, valued at $1,798,050. The disclosure for this sale can be found here. In the last three months, insiders sold 67,595 shares of company stock valued at $1,724,495. 3.70% of the stock is owned by insiders.

SMART Global Stock Performance

Shares of NASDAQ:SGH opened at $26.85 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 2.44 and a quick ratio of 1.85. SMART Global Holdings, Inc. has a 12 month low of $12.04 and a 12 month high of $29.99. The stock’s 50 day moving average price is $25.95 and its 200 day moving average price is $20.08.

SMART Global (NASDAQ:SGH – Get Free Report) last posted its quarterly earnings data on Thursday, June 29th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.26. SMART Global had a positive return on equity of 32.78% and a negative net margin of 1.56%. The company had revenue of $383.33 million for the quarter, compared to the consensus estimate of $375.08 million. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that SMART Global Holdings, Inc. will post 1.8 EPS for the current fiscal year.

SMART Global Profile

(Free Report)

SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets in the United States, Brazil, China, Europe, and internationally. It operates through three segments: Memory Solutions, Intelligent Platform Solutions, and LED Solutions. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

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Institutional Ownership by Quarter for SMART Global (NASDAQ:SGH)

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