SMART Global Holdings, Inc. (NASDAQ:SGH) CEO Buys $187,900.00 in Stock

SMART Global Holdings, Inc. (NASDAQ:SGH - Get Free Report) CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the purchase, the chief executive officer now owns 29,640 shares in the company, valued at approximately $556,935.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SMART Global Stock Performance

Shares of SGH traded down $0.24 on Thursday, reaching $19.44. The company's stock had a trading volume of 2,917,155 shares, compared to its average volume of 1,110,643. 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 stock has a market capitalization of $1.01 billion, a P/E ratio of -4.90 and a beta of 1.74. The stock's 50 day simple moving average is $22.99 and its two-hundred day simple moving average is $20.05. SMART Global Holdings, Inc. has a 12-month low of $12.66 and a 12-month high of $29.99.

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

Analyst Ratings Changes

SGH has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of SMART Global from $26.00 to $27.50 and gave the company a "buy" rating in a report on Wednesday. Needham & Company LLC raised their price target on shares of SMART Global from $24.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday.

Hedge Funds Weigh In On SMART Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in shares of SMART Global by 65.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company's stock worth $26,000 after buying an additional 641 shares during the last quarter. Point72 Middle East FZE bought a new position in shares of SMART Global in the fourth quarter worth approximately $32,000. GAMMA Investing LLC boosted its position in shares of SMART Global by 42.9% in the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company's stock worth $41,000 after purchasing an additional 469 shares during the period. Captrust Financial Advisors boosted its position in shares of SMART Global by 42.2% in the second quarter. Captrust Financial Advisors now owns 2,849 shares of the company's stock worth $47,000 after purchasing an additional 846 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of SMART Global by 93.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,434 shares of the company's stock worth $55,000 after purchasing an additional 1,662 shares during the period.

About SMART Global

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.