Van ECK Associates Corp grew its position in SMART Global Holdings, Inc. (NASDAQ:SGH – Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,649 shares of the company’s stock after purchasing an additional 665 shares during the quarter. Van ECK Associates Corp’s holdings in SMART Global were worth $339,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in shares of SMART Global by 5.0% in the first quarter. Integrated Wealth Concepts LLC now owns 15,266 shares of the company’s stock valued at $263,000 after purchasing an additional 732 shares during the period. LSV Asset Management grew its stake in shares of SMART Global by 1.5% in the first quarter. LSV Asset Management now owns 729,800 shares of the company’s stock worth $12,582,000 after acquiring an additional 10,600 shares during the last quarter. CM Wealth Advisors LLC acquired a new stake in shares of SMART Global in the first quarter worth $290,000. Texas Permanent School Fund Corp grew its stake in shares of SMART Global by 34.1% in the first quarter. Texas Permanent School Fund Corp now owns 43,827 shares of the company’s stock worth $756,000 after acquiring an additional 11,140 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SMART Global in the first quarter worth $102,000.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on SGH shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of SMART Global from $28.00 to $34.00 in a research note on Friday, June 30th. Barclays raised their price objective on shares of SMART Global from $20.00 to $30.00 in a research note on Wednesday, June 14th. Needham & Company LLC restated a “buy” rating and issued a $37.00 price objective on shares of SMART Global in a research note on Friday, July 14th. Stifel Nicolaus lifted their price target on shares of SMART Global from $27.00 to $32.00 in a research note on Wednesday, June 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price target on shares of SMART Global in a research note on Friday, June 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $33.60.
Insider Activity at SMART Global
In related news, Director Sandeep Nayyar sold 9,672 shares of SMART Global stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $26.60, for a total value of $257,275.20. Following the completion of the transaction, the director now directly owns 20,165 shares of the company’s stock, valued at $536,389. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Thierry Pellegrino sold 3,029 shares of SMART Global stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $25.00, for a total value of $75,725.00. Following the completion of the transaction, the senior vice president now directly owns 71,922 shares of the company’s stock, valued at $1,798,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandeep Nayyar sold 9,672 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $26.60, for a total value of $257,275.20. Following the sale, the director now directly owns 20,165 shares of the company’s stock, valued at $536,389. The disclosure for this sale can be found here. Insiders sold 67,595 shares of company stock valued at $1,724,495 over the last ninety days. 3.70% of the stock is owned by insiders.
SMART Global Stock Down 1.7 %
Shares of NASDAQ:SGH opened at $26.39 on Tuesday. SMART Global Holdings, Inc. has a 52 week low of $12.04 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.85 and a current ratio of 2.44. The company’s fifty day moving average is $25.95 and its 200-day moving average is $20.10. The company has a market capitalization of $1.32 billion, a PE ratio of -47.98 and a beta of 1.46.
SMART Global (NASDAQ:SGH – Get Free Report) last issued its earnings results on Thursday, June 29th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.40 by $0.26. SMART Global had a negative net margin of 1.56% and a positive return on equity of 32.78%. 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 company earned $0.72 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Equities research analysts predict that SMART Global Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.
About SMART Global
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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