Vanguard Group Inc. Grows Stock Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Vanguard Group Inc. boosted its stake in SMART Global Holdings, Inc. (NASDAQ:SGH - Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,024,986 shares of the company's stock after buying an additional 603,294 shares during the quarter. Vanguard Group Inc. owned approximately 11.62% of SMART Global worth $146,708,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SGH. ProShare Advisors LLC raised its position in SMART Global by 136.8% in the 1st quarter. ProShare Advisors LLC now owns 10,788 shares of the company's stock valued at $278,000 after purchasing an additional 6,233 shares during the last quarter. JPMorgan Chase & Co. raised its position in SMART Global by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 294,678 shares of the company's stock valued at $7,611,000 after purchasing an additional 54,051 shares during the last quarter. Raymond James & Associates raised its position in shares of SMART Global by 200.4% during the first quarter. Raymond James & Associates now owns 35,207 shares of the company's stock worth $909,000 after acquiring an additional 23,488 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of SMART Global by 101.4% during the first quarter. Bank of New York Mellon Corp now owns 395,670 shares of the company's stock worth $10,220,000 after acquiring an additional 199,254 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of SMART Global by 151.2% during the first quarter. Citigroup Inc. now owns 63,904 shares of the company's stock worth $1,651,000 after acquiring an additional 38,463 shares during the last quarter.

Analyst Ratings Changes

Separately, Needham & Company LLC lifted their price objective on SMART Global from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th.

Insider Transactions at SMART Global

In other news, COO Jack A. Pacheco sold 7,500 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $20.90, for a total transaction of $156,750.00. Following the transaction, the chief operating officer now owns 224,062 shares in the company, valued at $4,682,895.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Jack A. Pacheco sold 7,500 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $20.90, for a total transaction of $156,750.00. Following the sale, the chief operating officer now owns 224,062 shares of the company's stock, valued at $4,682,895.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Penny Herscher sold 2,525 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $287,568.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,928 shares of company stock worth $323,897. Company insiders own 2.30% of the company's stock.

SMART Global Stock Down 0.8 %

SGH traded down $0.22 on Tuesday, hitting $26.16. 720,668 shares of the company were exchanged, compared to its average volume of 1,019,831. SMART Global Holdings, Inc. has a 12 month low of $12.66 and a 12 month high of $29.99. The company has a market cap of $1.36 billion, a PE ratio of -6.59 and a beta of 1.74. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.11 and a current ratio of 2.68. The stock's fifty day moving average is $22.57 and its 200-day moving average is $19.96.

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

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.