Wedge Capital Management L L P NC bought a new position in SMART Global Holdings, Inc. (NASDAQ:SGH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 56,657 shares of the company's stock, valued at approximately $1,073,000. Wedge Capital Management L L P NC owned about 0.11% of SMART Global at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SGH. Migdal Insurance & Financial Holdings Ltd. lifted its position in SMART Global by 85.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company's stock worth $93,000 after buying an additional 1,757 shares during the last quarter. Strs Ohio bought a new stake in SMART Global in the 3rd quarter worth approximately $749,000. Inspire Investing LLC lifted its position in 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. lifted its position in SMART Global by 36.5% in the 3rd quarter. Victory Capital Management Inc. now owns 87,469 shares of the company's stock worth $2,130,000 after buying an additional 23,372 shares during the last quarter. Finally, Illinois Municipal Retirement Fund bought a new stake in SMART Global in the 3rd quarter worth approximately $702,000.
Analysts Set New Price Targets
Several brokerages have weighed in on SGH. Stifel Nicolaus boosted their price objective on SMART Global from $26.00 to $27.50 and gave the company a "buy" rating in a research report on Wednesday, April 10th. Needham & Company LLC reiterated a "buy" rating and issued a $27.00 price objective on shares of SMART Global in a research report on Monday.
Check Out Our Latest Research Report on SGH
Insider Activity at SMART Global
In related news, insider Joseph Gates Clark sold 2,529 shares of the company's stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the transaction, the insider now owns 92,386 shares in the company, valued at $1,657,404.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Joseph Gates Clark sold 2,529 shares of the company's stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now directly owns 92,386 shares of the company's stock, valued at $1,657,404.84. The sale 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 SMART Global stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the purchase, 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. 2.30% of the stock is owned by corporate insiders.
SMART Global Trading Down 0.8 %
Shares of SMART Global stock traded down $0.15 during midday trading on Friday, reaching $18.34. 795,659 shares of the company's stock traded hands, compared to its average volume of 1,123,659. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. The company has a market cap of $959.18 million, a PE ratio of -4.98 and a beta of 1.74. The stock has a 50 day moving average of $22.31 and a 200-day moving average of $19.60. SMART Global Holdings, Inc. has a 12 month low of $12.66 and a 12 month high of $29.99.
SMART Global Profile
(
Free Report)
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.
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