LSV Asset Management Sells 53,400 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

LSV Asset Management lowered its holdings in SMART Global Holdings, Inc. (NASDAQ:SGH - Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 692,100 shares of the company's stock after selling 53,400 shares during the quarter. LSV Asset Management owned 1.34% of SMART Global worth $13,101,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ acquired a new position in SMART Global in the 3rd quarter valued at approximately $217,000. Aigen Investment Management LP acquired a new stake in shares of SMART Global during the 3rd quarter valued at about $226,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SMART Global by 48.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company's stock valued at $245,000 after acquiring an additional 4,253 shares during the period. Raymond James & Associates raised its position in SMART Global by 19.0% in the fourth quarter. Raymond James & Associates now owns 14,683 shares of the company's stock worth $278,000 after purchasing an additional 2,340 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new position in SMART Global in the third quarter worth about $284,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on SGH. Stifel Nicolaus boosted their price target on shares of 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 reaffirmed a "buy" rating and set a $27.00 price target on shares of SMART Global in a report on Tuesday.

Insiders Place Their Bets

In related news, Director Penny Herscher sold 2,525 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed 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 transaction, the director now owns 12,713 shares in the company, valued at approximately $287,568.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction dated Wednesday, April 24th. The shares were 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 directly owns 92,386 shares in the company, valued at $1,657,404.84. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

SMART Global Stock Up 3.2 %

SMART Global stock traded up $0.59 during midday trading on Wednesday, reaching $19.12. The stock had a trading volume of 594,259 shares, compared to its average volume of 1,086,642. The stock has a market capitalization of $999.98 million, a P/E ratio of -5.20 and a beta of 1.80. The firm's fifty day simple moving average is $22.00 and its 200-day simple moving average is $19.68. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.99.

SMART Global (NASDAQ:SGH - Get Free Report) last released 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 negative net margin of 15.79% and a positive return on equity of 11.82%. The business had revenue of $284.82 million during the quarter, compared to the consensus estimate of $285.18 million. As a group, analysts expect that SMART Global Holdings, Inc. will post 0.64 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.