SMART Global Holdings, Inc. (NASDAQ:SGH) Given Consensus Recommendation of “Buy” by Analysts

Posted by on Aug 24th, 2023

SMART Global Holdings, Inc. (NASDAQ:SGH – Get Free Report) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $33.60.

Several brokerages have weighed in on SGH. Deutsche Bank Aktiengesellschaft boosted their price objective on SMART Global from $28.00 to $34.00 in a research report on Friday, June 30th. Stifel Nicolaus boosted their price objective on SMART Global from $27.00 to $32.00 in a research report on Wednesday, June 28th. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price objective on shares of SMART Global in a research report on Friday, July 14th. Barclays boosted their price objective on SMART Global from $20.00 to $30.00 in a research report on Wednesday, June 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research report on Friday, June 30th.

Check Out Our Latest Stock Analysis on SGH

Insider Activity

In other news, Director Sandeep Nayyar sold 12,356 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $27.39, for a total transaction of $338,430.84. Following the transaction, the director now directly owns 29,837 shares of the company’s stock, valued at $817,235.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Jack A. Pacheco sold 15,000 shares of the company’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 $375,000.00. Following the sale, the chief operating officer now directly owns 205,511 shares of the company’s stock, valued at $5,137,775. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sandeep Nayyar sold 12,356 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $27.39, for a total value of $338,430.84. Following the completion of the sale, the director now directly owns 29,837 shares in the company, valued at $817,235.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,595 shares of company stock valued at $1,633,420. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On SMART Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGH. Vanguard Group Inc. grew its stake in shares of SMART Global by 5.2% in the third quarter. Vanguard Group Inc. now owns 4,540,412 shares of the company’s stock worth $72,056,000 after acquiring an additional 222,867 shares during the last quarter. State Street Corp grew its stake in shares of SMART Global by 13.7% in the first quarter. State Street Corp now owns 2,966,663 shares of the company’s stock worth $51,145,000 after acquiring an additional 356,735 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of SMART Global by 2.8% in the first quarter. Clearbridge Investments LLC now owns 2,041,361 shares of the company’s stock worth $35,193,000 after acquiring an additional 55,021 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $35,375,000 after acquiring an additional 662,841 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of SMART Global in the second quarter worth $34,634,000.

SMART Global Stock Up 2.9 %

Shares of NASDAQ SGH opened at $25.02 on Thursday. The business has a 50-day moving average of $26.19 and a 200-day moving average of $20.74. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -45.49 and a beta of 1.46. SMART Global has a 12 month low of $12.04 and a 12 month high of $29.99. The company has a current ratio of 2.44, a quick ratio of 1.85 and a debt-to-equity ratio of 2.41.

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

SMART Global Company Profile

(Get 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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Analyst Recommendations for SMART Global (NASDAQ:SGH)

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