Stifel Nicolaus Boosts SMART Global (NASDAQ:SGH) Price Target to $27.50

SMART Global (NASDAQ:SGH - Get Free Report) had its price objective upped by Stifel Nicolaus from $26.00 to $27.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 39.74% from the stock's previous close.

Separately, Needham & Company LLC lifted their target price on shares of SMART Global from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday.

SMART Global Trading Down 24.1 %

SMART Global stock traded down $6.24 during midday trading on Wednesday, reaching $19.68. The stock had a trading volume of 6,511,480 shares, compared to its average volume of 1,083,359. The firm's fifty day simple moving average is $23.00 and its two-hundred day simple moving average is $20.05. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.68 and a quick ratio of 2.11. SMART Global has a twelve month low of $12.66 and a twelve month high of $29.99. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -4.96 and a beta of 1.74.

SMART Global (NASDAQ:SGH - Get Free Report) last announced its quarterly earnings results on Tuesday, January 9th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.16 by $0.08. SMART Global had a negative net margin of 15.14% and a positive return on equity of 20.15%. The company had revenue of $274.25 million for the quarter, compared to analyst estimates of $275.00 million. During the same quarter in the prior year, the business posted $0.60 EPS. SMART Global's quarterly revenue was down 30.0% on a year-over-year basis. Equities analysts anticipate that SMART Global will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at SMART Global

In other SMART Global news, insider Joseph Gates Clark sold 2,403 shares of the firm's stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $22.36, for a total transaction of $53,731.08. Following the transaction, the insider now directly owns 95,895 shares in the company, valued at approximately $2,144,212.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Joseph Gates Clark sold 2,403 shares of the company's stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $22.36, for a total value of $53,731.08. Following the transaction, the insider now owns 95,895 shares in the company, valued at $2,144,212.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the sale, the director now directly owns 12,713 shares of the company's stock, valued at approximately $287,568.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,428 shares of company stock valued at $167,147. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On SMART Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in SMART Global by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company's stock valued at $129,387,000 after buying an additional 810,022 shares during the period. State Street Corp grew its position in shares of SMART Global by 13.7% in the 1st quarter. State Street Corp now owns 2,966,663 shares of the company's stock worth $51,145,000 after buying an additional 356,735 shares during the period. FMR LLC lifted its position in SMART Global by 66.3% during the 3rd quarter. FMR LLC now owns 2,209,647 shares of the company's stock valued at $53,805,000 after acquiring an additional 880,971 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of SMART Global by 323.3% during the first quarter. Clearbridge Investments LLC now owns 1,563,323 shares of the company's stock valued at $40,381,000 after purchasing an additional 1,194,012 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in SMART Global by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,483,518 shares of the company's stock valued at $28,084,000 after buying an additional 37,256 shares in the last quarter.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.