SMART Global (NASDAQ:SGH) Shares Gap Down to $25.92

SMART Global Holdings, Inc. (NASDAQ:SGH - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $25.92, but opened at $22.88. SMART Global shares last traded at $21.64, with a volume of 887,468 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on SMART Global from $26.00 to $27.50 and gave the stock a "buy" rating in a research report on Wednesday. Needham & Company LLC increased their price objective on SMART Global from $24.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday.

SMART Global Stock Down 24.1 %

The company has a debt-to-equity ratio of 1.80, a current ratio of 2.68 and a quick ratio of 2.11. The company has a market cap of $1.02 billion, a P/E ratio of -4.96 and a beta of 1.74. The stock has a 50-day moving average of $23.00 and a 200 day moving average of $20.05.

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

Insider Activity at SMART Global

In related news, Director Penny Herscher sold 2,525 shares of the firm's 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 sale, the director now directly owns 12,713 shares of the company's stock, valued at $287,568.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Jack A. Pacheco sold 2,500 shares of the company's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $22.52, for a total transaction of $56,300.00. Following the completion of the sale, the chief operating officer now owns 220,007 shares in the company, valued at $4,954,557.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Penny Herscher sold 2,525 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $22.62, for a total value of $57,115.50. Following the transaction, the director now directly owns 12,713 shares in the company, valued at approximately $287,568.06. The disclosure for this sale can be found here. Insiders have sold 7,428 shares of company stock valued at $167,147 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SMART Global

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of SMART Global by 101.0% during the first quarter. Vanguard Group Inc. now owns 4,271,672 shares of the company's stock valued at $110,338,000 after purchasing an additional 2,146,056 shares in the last quarter. State Street Corp raised its stake in SMART Global by 103.3% during the first quarter. State Street Corp now owns 2,723,420 shares of the company's stock valued at $70,346,000 after buying an additional 1,383,982 shares during the last quarter. Clearbridge Investments LLC raised its stake in 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 buying an additional 1,194,012 shares during the last quarter. FMR LLC raised its stake in SMART Global by 66.3% during the third quarter. FMR LLC now owns 2,209,647 shares of the company's stock valued at $53,805,000 after buying an additional 880,971 shares during the last quarter. Finally, UBS Group AG raised its stake in SMART Global by 7,076.7% during the fourth quarter. UBS Group AG now owns 862,786 shares of the company's stock valued at $16,333,000 after buying an additional 850,764 shares during 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.