SMART Global (NASDAQ:SGH) Shares Down 4.1%

SMART Global Holdings, Inc. (NASDAQ:SGH - Get Free Report) shares traded down 4.1% during mid-day trading on Thursday . The company traded as low as $18.62 and last traded at $18.88. 1,176,928 shares traded hands during trading, an increase of 9% from the average session volume of 1,083,408 shares. The stock had previously closed at $19.68.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of SMART Global from $26.00 to $27.50 and gave the company a "buy" rating in a research note on Wednesday. Needham & Company LLC lifted their price target on shares of SMART Global from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday.

SMART Global Trading Down 1.2 %

The company has a quick ratio of 2.11, a current ratio of 2.68 and a debt-to-equity ratio of 1.80. The business's 50 day moving average is $23.00 and its 200-day moving average is $20.05. The firm has a market cap of $1.01 billion, a P/E ratio of -4.83 and a beta of 1.74.

SMART Global (NASDAQ:SGH - Get Free Report) last released its quarterly earnings data on Tuesday, January 9th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.08. The firm had revenue of $274.25 million during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, analysts forecast that SMART Global Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Gates Clark sold 2,403 shares of the business's stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total transaction of $53,731.08. Following the completion of the transaction, the insider now owns 95,895 shares of the company's stock, valued at $2,144,212.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Penny Herscher sold 2,525 shares of the company's stock in a transaction dated Monday, February 12th. The shares were 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 owns 12,713 shares of the company's stock, valued at $287,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Gates Clark sold 2,403 shares of the company's stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total transaction of $53,731.08. Following the completion of the sale, the insider now directly owns 95,895 shares of the company's stock, valued at $2,144,212.20. The disclosure for this sale can be found here. Insiders sold a total of 7,428 shares of company stock valued at $167,147 over the last 90 days. 2.30% of the stock is owned by company insiders.

Institutional Trading of SMART Global

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in SMART Global by 75.6% in the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company's stock worth $4,447,000 after buying an additional 101,159 shares during the last quarter. Deutsche Bank AG boosted its position in shares of SMART Global by 46.3% in the third quarter. Deutsche Bank AG now owns 482,967 shares of the company's stock valued at $11,760,000 after acquiring an additional 152,918 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in SMART Global in the third quarter worth $1,994,000. American Century Companies Inc. lifted its position in SMART Global by 42.3% in the third quarter. American Century Companies Inc. now owns 292,916 shares of the company's stock worth $7,133,000 after purchasing an additional 87,035 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new position in SMART Global in the third quarter worth $702,000.

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.