SMART Global (NASDAQ:SGH) Stock Rating Reaffirmed by Needham & Company LLC

SMART Global (NASDAQ:SGH - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $27.00 target price on the stock. Needham & Company LLC's price objective indicates a potential upside of 45.71% from the company's current price.

Separately, Stifel Nicolaus lifted their price objective on SMART Global from $26.00 to $27.50 and gave the company a "buy" rating in a research note on Wednesday, April 10th.

SMART Global Price Performance

Shares of SGH traded down $0.05 during midday trading on Tuesday, hitting $18.53. 619,303 shares of the company traded hands, compared to its average volume of 1,092,238. SMART Global has a one year low of $12.66 and a one year high of $29.99. The firm has a market cap of $969.12 million, a P/E ratio of -5.04 and a beta of 1.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. The stock has a 50-day moving average of $22.04 and a 200-day moving average of $19.69.

SMART Global (NASDAQ:SGH - Get Free Report) last posted its earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. The firm had revenue of $284.82 million for the quarter, compared to the consensus estimate of $285.18 million. As a group, sell-side analysts predict that SMART Global will post 0.64 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mark Adams purchased 10,000 shares of the stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the transaction, the chief executive officer now directly owns 29,640 shares of the company's stock, valued at approximately $556,935.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Penny Herscher sold 2,525 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $22.62, for a total transaction of $57,115.50. Following the transaction, the director now owns 12,713 shares of the company's stock, valued at approximately $287,568.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Adams purchased 10,000 shares of the business's stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, with a total value of $187,900.00. Following the completion of the transaction, the chief executive officer now owns 29,640 shares of the company's stock, valued at $556,935.60. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On SMART Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of SMART Global during the third quarter worth about $749,000. Inspire Investing LLC grew its position in shares of SMART Global by 17.7% in the 3rd quarter. Inspire Investing LLC now owns 41,807 shares of the company's stock worth $1,018,000 after buying an additional 6,289 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of SMART Global by 36.5% during the third quarter. Victory Capital Management Inc. now owns 87,469 shares of the company's stock valued at $2,130,000 after buying an additional 23,372 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of SMART Global during the third quarter valued at approximately $702,000. Finally, Barclays PLC lifted its stake in SMART Global by 17.2% in the third quarter. Barclays PLC now owns 267,639 shares of the company's stock worth $6,516,000 after acquiring an additional 39,264 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.