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S&P 500   3,343.40 (-0.24%)
DOW   27,528.85 (-0.20%)
QQQ   276.87 (-0.12%)
AAPL   114.57 (-0.34%)
MSFT   207.63 (-0.86%)
FB   262.05 (+2.04%)
GOOGL   1,463.44 (+0.33%)
AMZN   3,155.83 (-0.57%)
TSLA   421.78 (+0.14%)
NVDA   535.90 (+2.78%)
BABA   276.99 (+0.36%)
CGC   14.53 (+2.25%)
GE   6.14 (-0.97%)
MU   50.98 (+2.53%)
AMD   82.37 (+3.64%)
T   28.33 (-0.18%)
F   6.63 (-0.90%)
ACB   4.72 (-1.26%)
GILD   62.06 (-1.26%)
NFLX   495.39 (+0.97%)
DIS   125.13 (-0.68%)
BA   164.36 (-1.04%)
BAC   23.84 (-1.04%)
S&P 500   3,343.40 (-0.24%)
DOW   27,528.85 (-0.20%)
QQQ   276.87 (-0.12%)
AAPL   114.57 (-0.34%)
MSFT   207.63 (-0.86%)
FB   262.05 (+2.04%)
GOOGL   1,463.44 (+0.33%)
AMZN   3,155.83 (-0.57%)
TSLA   421.78 (+0.14%)
NVDA   535.90 (+2.78%)
BABA   276.99 (+0.36%)
CGC   14.53 (+2.25%)
GE   6.14 (-0.97%)
MU   50.98 (+2.53%)
AMD   82.37 (+3.64%)
T   28.33 (-0.18%)
F   6.63 (-0.90%)
ACB   4.72 (-1.26%)
GILD   62.06 (-1.26%)
NFLX   495.39 (+0.97%)
DIS   125.13 (-0.68%)
BA   164.36 (-1.04%)
BAC   23.84 (-1.04%)
S&P 500   3,343.40 (-0.24%)
DOW   27,528.85 (-0.20%)
QQQ   276.87 (-0.12%)
AAPL   114.57 (-0.34%)
MSFT   207.63 (-0.86%)
FB   262.05 (+2.04%)
GOOGL   1,463.44 (+0.33%)
AMZN   3,155.83 (-0.57%)
TSLA   421.78 (+0.14%)
NVDA   535.90 (+2.78%)
BABA   276.99 (+0.36%)
CGC   14.53 (+2.25%)
GE   6.14 (-0.97%)
MU   50.98 (+2.53%)
AMD   82.37 (+3.64%)
T   28.33 (-0.18%)
F   6.63 (-0.90%)
ACB   4.72 (-1.26%)
GILD   62.06 (-1.26%)
NFLX   495.39 (+0.97%)
DIS   125.13 (-0.68%)
BA   164.36 (-1.04%)
BAC   23.84 (-1.04%)
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Smart Global (NASDAQ:SGH) Downgraded to Sell at Zacks Investment Research

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

Smart Global (NASDAQ:SGH) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, "Smart Global Holdings Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets. The company operates primarily in the U.S., Europe, Asia and Latin America. Smart Global Holdings Inc. is headquartered in Newark, California. "

A number of other research analysts have also recently issued reports on SGH. Needham & Company LLC initiated coverage on Smart Global in a research note on Wednesday, July 8th. They set a "buy" rating and a $35.00 price objective on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $45.00 price objective on shares of Smart Global in a research note on Wednesday. BidaskClub raised Smart Global from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, ValuEngine raised Smart Global from a "sell" rating to a "hold" rating in a research note on Friday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of "Hold" and a consensus target price of $35.00.

SGH opened at $26.89 on Friday. The stock has a market cap of $649.64 million, a PE ratio of -206.83 and a beta of 0.92. The company has a quick ratio of 1.26, a current ratio of 1.85 and a debt-to-equity ratio of 0.73. Smart Global has a 52 week low of $16.42 and a 52 week high of $39.08. The business's fifty day simple moving average is $26.10 and its 200 day simple moving average is $25.51.

Smart Global (NASDAQ:SGH) last released its earnings results on Tuesday, July 7th. The company reported $0.70 EPS for the quarter, beating the Zacks' consensus estimate of $0.67 by $0.03. The business had revenue of $281.30 million for the quarter, compared to analysts' expectations of $282.56 million. Smart Global had a positive return on equity of 13.02% and a negative net margin of 0.28%. The firm's revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, equities analysts anticipate that Smart Global will post 1.77 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SGH. Point72 Hong Kong Ltd acquired a new stake in shares of Smart Global in the second quarter valued at about $29,000. UBS Group AG grew its stake in Smart Global by 421.8% in the second quarter. UBS Group AG now owns 1,435 shares of the company's stock valued at $39,000 after purchasing an additional 1,160 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Smart Global by 68.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,796 shares of the company's stock valued at $43,000 after purchasing an additional 732 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Smart Global in the first quarter valued at approximately $45,000. Finally, Royal Bank of Canada grew its stake in Smart Global by 5,560.2% in the first quarter. Royal Bank of Canada now owns 4,981 shares of the company's stock valued at $121,000 after purchasing an additional 4,893 shares in the last quarter.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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7 Stocks That Will Help You Forget About the Fed

Normally when the Federal Reserve (i.e. the Fed) makes an announcement, the market reacts predictably. That’s due, in large part, to the nature of what the Fed normally announces. Will interest rates go up, down, or remain unchanged? And for their part, the markets have a pretty good idea what the Fed will do before they do it.

But the Fed’s announcement of August 26 was a little different. They talked briefly about interest rates (they’re staying really low for a long time). But they were more concerned about inflation. Well, the Fed is always concerned about inflation, but this time they really mean it. Basic economics says that low-interest rates should spur inflation.

However, the market has been defying conventional wisdom and the Fed is not getting the inflation they want. So the Fed has basically said that they’re letting inflation go rogue. If it goes above their target 2% rate, so be it. The Fed is done trying to hit a target. At first, the markets cheered the news. Not only was the Fed not taking away the punch bowl, but they were also going to keep the low rate liquidity going for a long time!

But after a little while to digest things, investors are realizing they have to be grown-ups about this. And now investors are considering how to rebalance their portfolios for the remainder of 2020.

I don’t know about them, but if I were you I would target companies that have a high free cash flow (FCF). Whether it’s your personal finances or in evaluating a stock, cash flow is your friend.

When a corporation has high FCF, they have more strong growth in good markets and more flexibility during when the economy is weaker.

As institutional investors come back into the market, it’s time for you to reposition your portfolio for whatever comes next.

View the "7 Stocks That Will Help You Forget About the Fed".

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